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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
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