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Journalize the entries to record the transactions

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Reference no: EM133124113

Question - The following data relate to notes receivable and interest for CGH Cable Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.)

Apr. 10. Received a $144,000, 5%, 60-day note on account.

May 15. Received a $270,000, 7%, 120-day note on account.

June 9. Received $145,200 on note of April 10.

Aug. 22. Received a $150,000, 4%, 45-day note on account.

Sept. 12. Received $276,300 on note of May 15.

Sept. 30. Received a $210,000, 8%, 60-day note on account.

Oct. 6. Received $150,750 on note of August 22.

Oct. 18. Received a 120,000, 5%, 60-day note on account.

Nov. 29. Received $212,800 on note of September 30.

Dec. 17. Received $121,000 on note of October 18.

Required - Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest.

Reference no: EM133124113

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