Exercise 9-12 a-b (Part Level Submission) Oriole Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $23,500 cash to Manny Lopez on a 12-month, 12% note. Dec. 11 Sold goods to Ralph Kremer, Inc., receiving a $61,200, 90-day, 10% note. 16 Received a $97,200, 180 day, 8% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable.
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- View History Bookmarks Window Help Fri Apr 9 6:16 PM edugen.wileyplus.com Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT Exercise 7-04 a-d (Part Level Submission) Crane Company has a balance in its Accounts Receivable control account of $11,300 on January 1, 2020. The subsidiary ledger contains three accounts: Bixler Company, balance $4,500; Cuddyer Company, balance $2,100; and Freeze Company. During January, the following receivable-related transactions occurred. Credit Sales Collections Returns Bixler Company $9,500 $7,700 $ 0 Cuddyer Company 7,300 2,600 3,300 Freeze Company 9,000 9,000 (a) What is the January 1 balance in the Freeze Company subsidiary account? Balance in the Freeze Company subsidiary account $4 Click if you would like to Show Work for this question: Open Show Work S SAVE FOR LATER Attempts: 0 of 4 used (b) The parts of this question must be completed…Return to Blackboard US Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help | System Announcements Exercise 9-12 a-b (Part Levei SubmiSSion) CES CALCULATOR PRINTER VERSION 4 ВАCK Oriole Supply Co. has the following transactions related to notes receivable during the last 2 months of 2020. The company does not make entries to accrue interest excer ES- December 31. Nov. 1 Loaned $23,500 cash to Manny Lopez on a 12-month, 12% note. t Sold goods to Ralph Kremer, Inc., receiving a $61,200, 90-day, 10% note. Dec. 11 16 Received a $97,200, 180 day, 8% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable. (a) Your answer is correct. Journalize the transactions for Oriole Supply Co. (Ignore entries for cost of goods sold.) (Credit account titles are automatically indented when amount is ente indent manually. Use 360 days for calculation. Round answers to 0 decimal places, e.g.…Weygandt, Accounting Principles, 13th Edition, Custom WileyPLUS Course for Bronx Community College Help I System Announcements CALCULATOR PRINTER VERSION 4 ВАСК NEX Exercise 9-04 a-f (Part Level Submission) At the beginning of the current period, Cheyenne had balances in Accounts Receivable of $286,000 and in Allowance for Doubtful Accounts of $9,900 (credit). During the period, had net credit sales of $890,000 and collections of $845,500. It wrote off as uncollectible accounts receivable of $6,000. However, a $4,000 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $24,800 at the end of the period. (Omit cost of goods sold entries. (a - d) (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the…
- Catherines Cookies has a beginning balance in the Accounts Payable control total account of $8,200. In the cash disbursements journal, the Accounts Payable column has total debits of $6,800 for November. The Accounts Payable credit column in the purchases journal reveals a total of $10,500 for the current month. Based on this information, what is the ending balance in the Accounts Payable account in the general ledger?oft WE ivable/Notes Payable X b JOURNAL ENTRIES (NOTE ISSUEL X + moodle.cw.edu/mod/quiz/attempt.php?attempt3=56737&cmid%3733537 Graphics has the following notes payable transactions. Record these transactions in eneral journal. July 5lssued a $3,500 note to Roma Ceramic Inc. The 10%, 60-day note is in full payment of an account payable. 9Borrowed $5,000 from the bank sighing a 6%, 90-day note. 11Paid $500 cash and issued a $2,000, 8% 30-day note to Design Center in payment of an account payable. Aug. 5Borrowed $3,600 for 30 days from the bank on a non-interest-bearing note. The discount rate is 10%. Sept. 3Paid the principal and interest due on the $3,500 note to Roma Ceramic Inc. Oct. 3Paid the interest due on the $5,000 note to the bank and renewed the principal for 30 days at 7%. GENERAL JOURNAL Page 1 Post Date Description Ref. Debit Credit because we are The Colle 10mdio playyasGuardian Carpets Incorporated provided the following accounts related to beginning balances in its accounts receivable and allowance accounts for the current year: Accounts Receivable Beginning Balance 6,000,000 Allowance for Uncollectible Accounts 2,000,000 Beginning Balance Question content area top right Part 1 Requirement Prepare the journal entries to record the following transactions that occurred during the current year. Prepare a schedule for both accounts receivable and the allowance for uncollectible accounts that shows the beginning balances, the various items that change the beginning balance, and the ending balance. Question content area bottom Part 1 Prepare the journal entries to record the following transactions that occurred during the current year. (Record debits first, then credits. Exclude explanations from any journal…
- Record the following transactions for Concord Co. in the general journal. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 2020 May 1 Received a $33,000, 12 months, 10% note in exchange for Mark Chamber’s outstanding accounts receivable. Dec. 31 Accrued interest on the Chamber note. Dec. 31 Closed the interest revenue account. 2021 May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2021.) Date Account Titles and Explanation Debit Credit May 1, 2020Dec. 31, 2020May 1, 2021 May 1, 2020Dec. 31, 2020May 1, 2021 (To record accrued interest on note.) May 1, 2020Dec. 31, 2020May 1, 2021 (To close the…Using the appropriate window, (QuickBooks online) record the following transactions for June 2023: Jun. Jun. 4 Jun. 4 Jun. 7 Jun. 8 Jun. 11 Jun. 14 Jun. 15 Jun. 18 Jun. 21 Jun. 21 Jun. 21 Jun. 25 Jun, 28 Jun. 30 Jun. 30 Jun. 30 Received bill for rent for the month of June from ARC Management, $800, paid immediately. Check no. 1. Do not print check. Received a one-year insurance policy on account from Eastern Mutual Insurance, Bill no. 87775, $1,800, Net 30 Days. Purchased software on account from Netsoft Development, Bill no. 38745, $3,600, Net 30 Days. (Debit account 1925 Software - Cost.) Purchased office furniture on account from Lewis Furniture Company, Bill no. O-9887, $3,200, Net 30 Days. (Debit account 1825 Furniture - Cost.) Purchased six months of advertising services on account from Chrbet Advertising, Bill no. O-989, $1,200, Net 30 Days. Purchased computer supplies on account from Comet Computer Supplies, Bill no. 56355, $600, Net 15 Days. Received bill for online services…TB MC Qu. 07-134 (Algo) On July 9, Mifflin Company receives... On July 9, Mifflin Company receives a $10,200, 90-day, 6% note from customer Payton Summers to replace an account receivable. What entry should be made by Mifflin on July 9 to record receipt of the note? Multiple Choice Debit Notes Receivable $10,402; credit Interest Revenue $202; credit Accounts Receivable-P. Summers $10,200. Debit Accounts Receivable-P. Summers $10,200; credit Sales $10,200. Debit Notes Receivable $10,200; credit Sales $10,200. Debit Notes Receivable $10,200; credit Accounts Receivable-P. Summers $10,200. ( Prev 10 of 20 Next > 1069 MAR 15 éty MacBook Air F2 F3 F4 ES F6 F7 F8 %23 24 3 4 6 7 8.
- Current Attempt in Progress At December 1, 2022, Tamarisk, Inc. Accounts Receivable balance was $17470. During December, Tamarisk had credit sales of $46800 and collected accounts receivable of $37440. At December 31, 2022, the Accounts Receivable balance is O $64270 debit O $17470 debit O $26830 credit O $26830 debit Save for Later Attempts: 0 of 1 used Submit AnswerSchedule of Accounts Receivable From the accounts receivable ledger shown, prepare a schedule of accounts receivable for Pheng Co. as of August 31, 20--. ACCOUNTS RECEIVABLE LEDGER B & G Distributors NAME 2628 Burlington Avenue, Chicago, IL 60604- ADDRESS 1329 DATE BALANCE ITEM POST. REF. DEBIT CREDIT 20-- Aug. J1 1,300.00 1,300.00 8 J1 110.00 1,190.00 M. Chang NAME ADDRESS 1422 SW Pacific, Chicago, IL 60603-8596 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 5 J1 2,180.00 2,180.00 11 J2 2,180.00 0.00 B. J. Hinschliff & Co. NAME 133 College Blvd., Des Plaines, IL 60611- ADDRESS 4431 DATE POST. REF. ITEM DEBIT CREDIT BALANCE 20-- Aug. 15 J2 1,050.00 1,050.00 21 J3 392.00 1,442.00 NAME Sally M. Pitts ADDRESS 213 East 29th Place, Chicago, IL 60601-6287 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 21 J3 807.00 807.00 NAME Trendsetters, Inc. ADDRESS 29 Industrial Way, Chicago, IL 60600-5918 DATE ITEM POST. REF. DEBIT CREDIT BALANCE 20-- Aug. 28 J4 1,039.00 1,039.00Prepare the necessary journal entries (include journal entry descriptions) for the selected transactions of Nester Company whose fiscal year end is December 31, You MUST show the details of any calculations either in parenthesis or as a footnote. Date Transaction Description 7/1/20Y5 Accepted a 5-month, 6% note in settlement of a past due customer account, Barns Company, with a $9,000 balance. 11/1/20Y5 Accepted a promissory note from a Nester Company executive in exchange for providing the executive with S20,000 to be used for relocation costs. The note carries interest of 9% and is due in 8 months. 12/1/20Y5 Received the amount due on the note from Barns Company. 12/31/20Y5 Accrued interest on the 8-month note received from the Nester Company executive. 7/1/20Y6 Received full payment from the Nester Company executive.