Entries for notes receivable, including year-end entriesThe following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:2017December 7. Received from Unitarian Clothing & Bags Co., on account, a $75,000, 60-day, 3 % note dated December 7.December 31. Recorded an adjusting entry for accrued interest on the note of December 7.December 31. Recorded the closing entry for interest revenue.2018February 5. Received payment of note and interest from Unitarian Clothing & Bags Co.Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume 360 days in a year.2017, Dec. 7Dec. 31Dec. 312018, Feb. 5

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Description: Entries for notes receivable, including year-end entriesThe following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:2017December 7. Received from Unitarian Clothing & Bags Co., on account, a $75

When sales are made against the notes receivable, a journal entry is required to record notes…

Business

Accounting

2018 February 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. 2017, Dec. 7 Dec. 31 Dec. 31 2018, Feb. 5. 0000 000000

2018 February 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. 2017, Dec. 7 Dec. 31 Dec. 31 2018, Feb. 5. 0000 000000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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