2023 Exercise 9 10 Elburn Supply Co has the following transactions related to notes | Assignments Online

2023 Exercise 9 10 Elburn Supply Co has the following transactions related to notes | Assignments Online

Assignments Online 2023 Business Finance

Exercise 9-10 Elburn Supply Co. has the following transactions related to notes receivable during the last 2 months of 2014. The company does not make entries to accrue interest except at December 31. Nov. 1   Loaned $30,000 cash to Manny Lopez on a 12-month, 10% note. Dec. 11   Sold goods to Ralph Kremer, Inc., receiving a $6,750, 90-day, 8% note. 16   Received a $4,000, 180 day, 9% note in exchange for Joe Fernetti’s outstanding accounts receivable. 31   Accrued interest revenue on all notes receivable.

Your answer is partially correct.  Try again.     Journalize the transactions for Elburn Supply Co. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. Use 360 days for calculation. Round answers to 0 decimal places, e.g. 5,275.) Date Account Titles and Explanation Debit Credit [removed] [removed] [removed]   [removed] [removed] [removed]   [removed] [removed] [removed]   [removed] [removed] [removed]

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