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4 years ago

Mar. 29 Received a $30,000, 60-day, 5% note dated March 29 from Karie Platt on account.

Business

1 answer:

dolphi86 [110]4 years ago

5 0

Answer:

Explanation:

Date Description Post. Ref. Debit Credit Assets Liabilities Equity

1 Mar.29 Notes receivable 30000 30000

2 Accounts receivable-Karie Platt 30000 -30000

3 Apr.30 Notes receivable 24000 24000

4 Accounts receivable-Jon Kelly 24000 -24000

5 May.28 Accounts receivable-Karie Platt 30250 30250

6 Notes receivable 30000 -30000

7 Income Summary ($30000 x 5% x 60/360) 250 250

8 Jun.29 Accounts receivable-Jon Kelly 24320 24320

9 Notes receivable 24000 -24000

10 Income Summary ($24000 x 8% x 60/360) 320 320

11 Aug.26 Cash 30855 30855

12 Accounts receivable-Karie Platt 30250 -30250

13 Income Summary ($30250 x 8% x 90/360) 605 605

14 Oct.22 Allowance for Doubtful Accounts 24320 24320

15 Accounts receivable-Jon Kelly 24320 -24320

163745 163745 1175 0 1175

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