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January Sold merchandise on account to Black Tie Co $ The cost of goods sold was $
March Accepted a day, note for $ from Black Tie Co on account.
May Received from Black Tie Co the amount due on the note of March
June Sold merchandise on account, terms to Pioneer Co for $ Record the sale net of the discount. The cost of goods sold was $
June Loaned $ cash to JR Stutts, receiving a day, note.
June Received from Pioneer Co the amount due on the invoice of June less discount.
July Received the interest due from JR Stutts and a new day, note as a renewal of the loan of June
T Record both the debit and the credit to the notes receivable account.
September Received from JR Stutts the amount due on her note of July
September Sold merchandise on account to Wycoff C $ The cost of goods sold was $
October Accepted a day, note for $ from Wycoff Co on account.
November Wycoff Co dishonored the note dated October
December Received from Wycoff Co the amount owed on the dishonored note, plus interest for days at computed on the maturity value of the note.
Required:
Journalize the entries to record the transactions. Assume days in a year. If an amount box does not require an entry, leave it blank. Assume this is a year in which February has days.
