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Journalize the previous transactions for sun company

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Reference no: EM131791969

SUN Company had the following transaction during 2015

September 1,2015 SUN Company sold merchandise of $150,000 to ABZ Company and accepted three notes ;

First Note: $30,000, 12%, 2-months note

Second Note; $45,000,12%, 3-months note

Third Note: $ 75,000, 12%, 4-months note

November 1,2015 SUN Company received full payment for the first note.

December 1,2015 The second note was dishonored but SUN Company expects the ABZ Company will pay at late date.

December 20,2015 SUN Company received full payment from ABZ Company for the second note that was previously dishonored.

December 31,2015 The third note was dishonored. SUN Company does not expect future collection from ABZ Company.

Instructions;- Journalize the previous transactions for SUN Company required during 2015.

Reference no: EM131791969

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