еBook 4Show Me How Entries for Notes Receivable, Including Year-End Entries EET The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: EET 20Υ3 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. Dec. 31. Recorded an adjusting entry for accrued interest on the note of November 21. 20Y4 Jan. 20. Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360-day year when calculating interest. 20Y3, Nov. 21 Dec. 31 20Y4, Jan. 20 items Check My Work Previous Next 31 O 11:01

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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* CengageNOWv X
(58) YouTube
× ロ
Bb Content - ACG2 X
+ x
from Towards a
Mail - Edjouline X
Office X
PowerPoint
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v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro.
D YouTube
eBook
Show Me How
Nine
Entries for Notes Receivable, Including Year-End Entries
3.BLANKSHEET
The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing:
4.BLANKSHEET
20Y3
03.ALGO
Nov. 21.
Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due
account.
04.ALGO
Dec. 31.
Recorded an adjusting entry for accrued interest on the note of November 21.
90
20Y4
-11
Jan. 20.
Received payment of note and interest from McKenna Outer Wear Co.
-12
Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360-day year when
calculating interest.
-19
<>
20Y3, Nov. 21
9-20
09-22
Dec. 31
09-24
.09-06B
20Y4, Jan. 20
gress: 10/12 items
Check My Work
( Previous
Next
31
N
V O 11:01
EGO
96
0.
Transcribed Image Text:* CengageNOWv X (58) YouTube × ロ Bb Content - ACG2 X + x from Towards a Mail - Edjouline X Office X PowerPoint | x v2.cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=assignments&takeAssignmentSessionLocator=assignment-take&inpro. D YouTube eBook Show Me How Nine Entries for Notes Receivable, Including Year-End Entries 3.BLANKSHEET The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: 4.BLANKSHEET 20Y3 03.ALGO Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. 04.ALGO Dec. 31. Recorded an adjusting entry for accrued interest on the note of November 21. 90 20Y4 -11 Jan. 20. Received payment of note and interest from McKenna Outer Wear Co. -12 Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360-day year when calculating interest. -19 <> 20Y3, Nov. 21 9-20 09-22 Dec. 31 09-24 .09-06B 20Y4, Jan. 20 gress: 10/12 items Check My Work ( Previous Next 31 N V O 11:01 EGO 96 0.
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