Consider the following transactions for Smiths Publishing

2016 Dec 6 Received a #420

Consider the following transactions for Smiths Publishing.2016Dec. 6 Received a $15,000,
90-day, 12% note in settlement of an overdue accounts receivable from Jazz Music.31 Made an
adjusting entry to accrue interest on the Jazz Music note.31 Made a dosing entry for interest
revenue.2017Mar. 6 Collected the maturity value of the Jazz Music note.Jun. 30 Loaned
$11,000 cash to RS Publishing, receiving a six-month, 12% note.Oct. 2 Received a $3,000,
60-day, 12% note for a sale to Tusk Music. Ignore Cost of Goods Sold.Dec. 1 Tusk Music
dishonored its note at maturity.1 Wrote off the receivable associated with Tusk Music. (Use the
allowance method.) 30 Collected the maturity value of the RS Publishing note.Journalize all
transactions for Smith’s Publishing. Round all amounts to the nearest dollar. View Solution:
Consider the following transactions for Smiths Publishing 2016 Dec 6 Received a

ANSWER
http://paperinstant.com/downloads/consider-the-following-transactions-for-smiths-
publishing-2016-dec-6-received-a/

1/1
Powered by TCPDF (www.tcpdf.org)