E9-8(1) - Name: Date: Instructor: Course: Acc 363 Financial...

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FileName: ada99c7fdebbc6dd724b604a1748ea0558e04f85.xls, Tab: Exercise E9-8, Page 1 of 2, 05/07/2009, 22:27:55 Name: Date: Instructor: Course: Acc 363 Nov 1 Loaned $18,000 cash to Norma Hanson on a 1-year, 10% note. Dec 11 Sold goods to John Countryman, Inc., receiving a $6,750 90-day, 8% note. Dec 16 Received a $4,000 6-month, 9% note in exchange for Bob Shabo's outstanding accounts receivable. Dec 11 Accrued interest revenue on all notes receivable. Instructions: Nov 1, 06 Notes Receivable 18,000 Cash - Norma Hanson 18,000 Dec 11, 06 Notes Receivable 6,750 Accounts Receivable- John Countryman 6,750 Dec 16, 06 Notes Receivable 4,000 Accounts Receivable - Bob Shabo 4,000 Dec 31, 06 Interest Receivable 345 Interest Revenue 345 Calculation of interest revenue: Norma Hanson $300 John Countryman Inc 30 Bob Shabo 15 Total accrued interest $345 Nov 1, 07 Cash 19,800 Notes Receivable 18,000 Interest Receivable 300 Interest Revenue 1,500 Financial Accounting, 5th Edition, by Weygandt, Kieso, and Kimmel
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This note was uploaded on 09/20/2008 for the course ACC 363 taught by Professor Rossi during the Spring '08 term at University of Phoenix.

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E9-8(1) - Name: Date: Instructor: Course: Acc 363 Financial...

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