Reference no: EM132681480
Problem - Notes receivable entries
The following data relate to notes receivable and interest for Viking Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.)
June 3. Received a $24,000, 4%, 60-day note on account.
July 26. Received a $27,000, 5%, 120-day note on account.
Aug. 2. Received $24,160 on note of June 3.
Sept. 4. Received a $60,000, 3%, 60-day note on account.
Nov. 3. Received $60,300 on note of September 4.
Nov. 5. Received a $36,000, 7%, 30-day note on account.
Nov. 23. Received $27,450 on note of July 26.
Nov. 30. Received an $18,000, 5%, 30-day note on account.
Dec. 5. Received $36,210 on note of November 5.
Dec. 30. Received $18,075 on note of November 30.
Instructions - Journalize entries to record the transactions.
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