<u>Solution and Explanation:</u>
<u>Date Particulars Post ref. Debit ($) Credit ($)
</u>
5- Jan Accounts Receivable 20000
Sales revenue 20000
(To record the sales revenue)
5- Jan Notes Receivable 30000
Accounts receivable 30000
(To record the sales revenue)
18- Feb Notes receivable 8000
Sales revenue 8000
(To record the notes receivable and sales revenue)
20- April Cash 20400
Notes receivable 20000
Interest revenue 400
(To record the collection of notes)
30 april Cash 25000
Notes receivable 25000
(to record the collection of payment due)
25 May Notes receivable 6000
Accounts receivable 6000
( To record the note settlement of past due balance)
18- Aug Cash account 8360
Notes receivable 8000
Interest revenue 360
(To record the collection of notes payment)
25- Aug Accounts receivable 6135
Notes receivable 6000
Interest revenue 135
1-Sep Notes receivable 12000
Sales revenue 12000
(To record the note for amount due)
