On June the Esquire Company sold some merchandise to a customer for $ In payment, Esquire agreed to accept a
note requiring the payment of interest and principal on March The rate is appropriate in this situation.
Required:
Prepare journal entries to record the sale of merchandise omit any entry that might be required for the cost of the goods sold
the December interest accrual, and the March collection.
If the December adjusting entry for the interest accrual is not prepared, by how much will income before income taxes be
over or understated in and
Complete this question by entering your answers in the tabs below.
Required
Prepare journal entries to record the sale of merchandise omit any entry that might be required for the cost of the goods sold the
December interest accrual, and the March collection.
Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Do not round
intermediate calculations.
Journal entry worksheet
