Class+Exercise+from+2-20-09

Class+Exercise+from+2-20-09 - December 11 Sold goods to...

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ACCT 2101 CLASS EXERCISE DATE _____________ Topic: Notes Receivable Name _____________________________ Section ______ Northridge Supply Company has the following transactions related to notes receivable during the last two months of the year: November 1 Loaned $30,000 cash to Stone Company on a 1-year, 8% note.
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Unformatted text preview: December 11 Sold goods to Kimball Company, receiving a $3,600, 90-day, 12% note. December 16 Received a $6,000, 6-month, 12% note on account from Bell Company. December 31 Accrued interest revenue on all notes receivable. REQUIRED: Prepare the journal entries for Northridge Supply Company....
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