Accounting
27th Edition
ISBN: 9781337272094
Author: WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher: Cengage Learning,
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Chapter 9, Problem 9.21EX
Entries for notes receivable
The series of five transactions recorded in the following T accounts were related to a sale to a customer on account and the receipt of the amount owed. Briefly describe each transaction.
| Cash | Notes Receivable | |||
| (e) 76,500 | (c) 75,000 | (d) 75,000 | ||
| Cost of Goods Sold | ||||
| (a) 75,000 | (c) 75,000 | (b) 45,000 | ||
| (d) 75,400 | (b) 75,400 | |||
| Inventory | Interest Revenue | |||
| (b) 45,000 | (d) 400 | |||
| (e) 1,100 | ||||
| Sales | ||||
| (a) 75,000 | ||||
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Chapter 9 Solutions
Accounting
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