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Category > Accounting Posted 18 Aug 2017 My Price 8.00

Oswalt Company

On January 1, 2014, Oswalt Company had Accounts Receivable of $67,000 and Allowance for Doubtful Accounts of $4,300. Oswalt Company prepares financial statements annually. During the year, the following selected transactions occurred.

1.   Jan.  5   Sold $6,700 of merchandise to Ross Company, terms n/30.
2.   Feb.  2   Accepted a $6,700, 4-month, 9% promissory note from Ross Company for balance due.
3.   12   Sold $11,300 of merchandise to Cano Company and accepted CanoAc€?cs $11,300, 2-month, 11% note for the balance due.
4.   26   Sold $8,200 of merchandise to Meachum Co., terms n/10.
5.   Apr.  5   Accepted a $8,200, 3-month, 11% note from Meachum Co. for balance due.
6.   12   Collected Cano Company note in full.
7.   June  2   Collected Ross Company note in full.
8.   15   Sold $2,400 of merchandise to Glanvile Inc. and accepted a $2,400, 6-month, 14% note for the amount due.


Journalize the transactions.

Answers

Maurice Tutor
(5)
Status NEW Posted 18 Aug 2017 04:08 PM My Price 8.00

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