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Category > Accounting Posted 07 Jun 2017 My Price 4.00

Milner Family Importers sold goods to Tung Decorators for $30,000 on November 1

Milner Family Importers sold goods to Tung Decorators for $30,000 on November 1, 2014, accepting Tung’s $30,000, 6-month, 6% note. Prepare Milner’s November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest.

 

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Alpha Geek
(8)
Status NEW Posted 07 Jun 2017 04:06 PM My Price 4.00

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Attachments

file 1496853553-1574672_1_636322471370455960_Journal-Entries.docx preview (42 words )
J-----------our-----------nal----------- En-----------tri-----------es ----------- On----------- 11-----------/1/-----------14 ----------- N-----------ote-----------s R-----------ece-----------iva-----------ble----------- â€-----------¦.D-----------r30-----------,00-----------0 -----------To -----------Sal-----------es -----------Rev-----------enu-----------e 3-----------0,0-----------00 ----------- O-----------n 1-----------2/3-----------1/1-----------4 ----------- In-----------ter-----------est----------- Re-----------cei-----------vab-----------le -----------…-----------Dr3-----------00 ----------- T-----------o I-----------nte-----------res-----------t R-----------eve-----------nue----------- ($-----------30,-----------000----------- X -----------6% -----------X 2-----------/12-----------) 3-----------00 ----------- On----------- 5/-----------1/1-----------5 ----------- Ca-----------sh -----------…-----------Dr3-----------0,9-----------00 ----------- To----------- No-----------tes----------- Re-----------cei-----------vab-----------le -----------30,-----------000----------- -----------To -----------Int-----------ere-----------st -----------Rec-----------eiv-----------abl-----------e 3-----------00 ----------- T-----------o I-----------nte-----------res-----------t R-----------eve-----------nue----------- ($-----------30,-----------000----------- X -----------6% -----------X 4-----------/12-----------) 6-----------00Â-----------  -----------
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