Journalize the following transactions of Al Rajhi Productions: 1st February-Received 150,000 SR, 90...
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Accounting
Journalize the following transactions of Al Rajhi Productions:
1st February-Received 150,000 SR, 90 days, 9 per cent of an annual note dated 1st February from AL Babtan on behalf of the company.
30 April AL babtan company dishonored the note and requested a further note for 45 days at 15 percent per annum interest on the total amount charged on 30 April to AL babtan company.
May 31-Received the amount owing on the dishonored note plus interest at 15 per cent per annum for 45 days on the total amount charged to AL babtan on 30 April.
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