Journalize the preceding transactions

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Question - Selected transactions of Taylor company, completed during the fiscal year ended December 31, are as follows:

Mar. 1. purchased merchandise on account from kelvin Co. $20,000

Apr. 10. issue a 60-day, 12% note for $20,000 to kelvin Co. on account

June. 9. paid kelvin Co. the amount owed on the note of April 10.

Aug. 1. issued a $50,000, 90-day note to Harold Co. in exchange for a building. Harold Co. discounted the note at 15%

Oct. 30. paid Harold Co. the amount due on the note of august 1.

Required - Journalize the preceding transactions.

Reference no: EM132934193

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