Answer Happy

Record the following selected transactions in the general journal of Fletcher Paper Products. Explanations are not required. (Click the icon to view the transactions.) More info November 21. Received a $32,000, 60-day, 7-percent note from Breanna Nager on acc whole dollar unless otherwise instructed.) 2019 Nov. 21 Received a $32,000, 60-day, 7-percent note from Breanna Nager on account. General Journal 30 Recorded VISA credit card sales of $40,000. VISA charges 3.5 percent of sales. Dec. 31 Made an adjusting entry to accrue interest on the Nager note. Date Accounts Debit 31 Made an adjusting entry to record bad debt expense based on 3 percent of credit sales of $2,070,000. 31 Made a compound closing entry for Interest Revenue and Bad Debt Expense (ignore credit card sales and charges). 2019 Nov. 21 2020 Jan. 20 Collected the maturity value of the Nager note. Mar. 14 Lent $22,000 cash to MM Supplies, receiving a six-month, 14-percent note. May 30 Received a $7,200, 30-day, 8-percent note from Quin Carson on his past-due account receivable. 29 Carson dishonoured (failed to pay) his note at maturity; after attempting to collect his note for one month, wrote off the account as uncollectible. Sep. 14 Collected the maturity value of the MM Supplies note. 30 Wrote off as uncollectible the account receivable of Sally Whaley, $5,000 and Martin Zeel, $5,200. Calculator Ask my instructor