Here are some of the transactions carried out by Geary

Here are some of the transactions carried out by Geary Company this year. Jan. 7 Sold
merchandise on account to Edge Imports; 2/10, n/30; $ 2,835. Feb. 6 Received a 30-day, 6
percent note, dated this day, for $ 2,835 from Edge Imports on account. Mar. 8 Received
payment from Edge Imports for the amount owed on its note of February 6. Apr. 25 Sold
merchandise on account to Katie’s Gift Shop; 2/10, n/30; $ 3,460. May 25 Received a 45-day,
5.75 percent note, dated May 25, for $ 3,460 from Katie’s Gift Shop on account. July 9 Katie’s
Gift Shop paid the interest on its note of May 25 and renewed the obligation by issuing a new
60- day, 6 percent note for $ 3,460, dated July 9. Sept. 7 Received a check from Katie’s Gift
Shop for the amount owed on its note of July 9. 15 Sold merchandise to Reinhold, Inc., for $
4,898, receiving a 30-day, 6.25 percent note, dated this day (not previously recorded). 25
Discounted the note received from Reinhold, Inc., at All State Bank; discount rate, 7 percent.
Required 1. Record these transactions in the general journal (pages 11 and 12). 2. Immediately
after each journal entry, record each note receivable in the notes receivable register. a. All
notes are payable at All State Bank. b. Fill in the date paid after journalizing the receipt of
payment of the note or fill in “renewed” or “discounted” when appropriate.View Solution: Here
are some of the transactions carried out by Geary
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