Whispering Winds Corp. has the following transactions related to notes receivable during the last 2...
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Accounting
Whispering Winds Corp. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. (Omit cost of goods sold entries.)
Nov. 1
Loaned $58,200 cash to C. Bohr on a 12-month, 9% note.
Dec. 11
Sold goods to K. R. Pine, Inc., receiving a $5,400, 90-day, 9% note.
Dec. 16
Received a $12,000, 180-day, 7% note to settle an open account from A. Murdock.
Dec. 31
Accrued interest revenue on all notes receivable.
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