1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
ollegr [7]
3 years ago
9

Notes Receivable Entries The following data relate to notes receivable and interest for Owens Co., a financial services company.

Assume a 360-day year. (All notes are dated as of the day they are received.) Mar. 8. Received a $33,000, 5%, 60-day note on account. 31. Received an $80,000, 7%, 90-day note on account. May 7. Received $33,275 on note of March 8. 16. Received a $72,000, 7%, 90-day note on account. June 11. Received a $36,000, 6%, 45-day note on account. 29. Received $81,400 on note of March 31. July 26. Received $36,270 on note of June 11. Aug. 4. Received a $48,000, 9%, 120-day note on account. 14. Received $73,260 on note of May 16. Dec. 2. Received $49,440 on note of August 4. Required: Journalize the entries to record the transactions. For a compound transactions, if an amount box does not require an entry, leave it blank.
Business
1 answer:
MArishka [77]3 years ago
7 0

Answer

The answer and procedures of the exercise are attached in a microsof excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.

Download xlsx
You might be interested in
Cheryl is taking classes at an institution that offers face-to-face time with her instructor and classmates and also online time
SashulF [63]
The answer is B. Blended Learning. Blended learning combines traditional classroom education with the ability to learn from and utilize an online platform.
5 0
4 years ago
Which of the following is NOT an example of fixed expenses?
brilliants [131]

Answer:

A.

Health insurance premium

Explanation:

helping

3 0
3 years ago
Dextra Computing sells merchandise for $15,000 cash on September 30 (cost of merchandise is $12,000). The sales tax law requires
Nitella [24]

Answer and Explanation:

The journal entries are shown below:

1. On Sep 30

Cash    $15750

   To Sales   $15,000

   To Sales taxes payable ($15000 ×5%)  $750

(Being the cash receipts is recorded)

For recording this we debited the cash as it increased the assets and credited the sales and sales tax payable as it increased the revenue and liabilities

2   On Sep 30

Cost of goods sold   $12,000

              To Merchandise inventory $12,000

(Being the cost of goods sold is recorded)

For recording this we debited the cost of goods sold as it increased the expenses and credited the merchandise inventory as it reduced the assets

3  On Oct 15

Sales taxes payable $750

      To Cash $750

(Being cash paid is recorded)

For recording this we debited the sales tax payable as it reduced the liabilities and credited the cash as it decreased the assets

5 0
3 years ago
When a firm adopts new technology, it is customary for firms':
Anna35 [415]
I believe the answer is:

a. cost curves to shift upward
6 0
3 years ago
Read 2 more answers
If you were to illegally reproduce for a profit a likeness or exact replica of a copyrighted logo, you would commit
tamaranim1 [39]

Answer:

copyright infringement

Explanation:

Copyright infringement is a broad term that refers to any kind of harm to someone's copyright, which includes copying a company's logo for profit. A logo, like any other visual product, is the legal possession of an individual or company, therefore it is illegal to copy it for your own business goal or profit.

5 0
4 years ago
Other questions:
  • Porter Co. owned all of the voting common stock of Simi Corp. The corporations' balance sheets dated December 31, 2018, include
    14·1 answer
  • When a country chooses to limit the kinds of goods or services it produces, it is practicing
    5·2 answers
  • Arctic Cat sold Seneca Motor Sports a shipment of snowmobiles. The snowmobiles were delivered on January 1, 2021, and Arctic rec
    7·1 answer
  • In year 2, Kilroy Company purchased land for a new office building at a purchase price of $325,000. There was an existing buildi
    8·1 answer
  • FedEx Corporation and United Parcel Service, Inc. compete in the package delivery business. The major fixed assets for each busi
    9·1 answer
  • Geo Co. purchased a building for $400,000. In addition, Geo paid $35,000 closing fees (including title and lawyer fees). Geo als
    11·1 answer
  • Determine financial statement amounts and prepare owner's equity statement.
    12·1 answer
  • Absorption and Variable Costing Comparisons: Production Equals Sales Assume that Smuckers manufactures and sells 30,000 cases of
    6·1 answer
  • When reviewing her Experian credit report, Dela found it to contain inaccurate information. She has informed Experian in writing
    13·1 answer
  • Due to inflation and shortages created by supply chain shortages, the price of Paco Rabanne's Eau de Toilette Spray increased
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!