Answer Happy

The following selected transactions were completed by Fasteners Inc. Co, a supplier of buttons and zippers for clothing 20Y3 Νον. 21 Received from McKenna Outer Wear Co, on account, a $54,000, 60-day, 7% note dated November 21 in settlement of a past due account Recorded an adjusting entry for accrued interest on the note of November 21 Dec 31 2044 Jan 20 Received payment of note and interest from McKenna Outer Wear Co Required: Journalize the entries to record the transactions Refer to the chart of accounts for the exact wording of the account des CNOW Journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit enmes, CNOW journals will automatically indenta credit entry when a credit amount is entered no enty is required, simply skip to the next transaction. Assume a 360-day year when calculating interest
CHART OF ACCOUNTS Fasteners Inc, Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 610 Interest Revenue 111 Petty Cash 121 Accounts Receivable-McKenna Outer Wear Co 129 Allowance for Doubtful Accounts 131 Interest Receivable 132 Notes Receivable 141 Merchandise Inventory 145 Office Supplies 146 Store Supplies EXPENSES 510 Cost of Merchandise Sold 520 Sales Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 529 Seiling Expenses 530 Office Sataries Expense 531 Rent Expense 532 Depreciation Expense Ofice Equipment 533 Insurance Expense 151 Prepaid Insurance 181 Land 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Onice Equipment
145 Office Supplies 146 Store Supplies 522 Depreciation Expense-Store Equipment 523 Delivery Expense 524 Repairs Expense 151 Prepaid Insurance 181 Land 529 Selling Expenses 530 Office Salaries Expense 191 Store Equipment 192 Accumulated Depreciation Store Equipment 193 Office Equipment 194 Accumulated Depreciation Office Equipment 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Office Supplies Expense LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable 535 Store Supplies Expense 536 Credit Card Expense 537 Cash Short and Over 538 Bad Debt Expense 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Owner, Capital 311 Owner, Drawing 312 Income Summary Check My Work more Check My Work uses remaining
Samal tee 2001 hecho couro CNow we record NOW மாக பாாயவhைnan மானாமணன்மாலயாமை மyar மாயா மாலா JOURNAL ACCOUNT TOUTON U mwen யாயையானயான பானங்களாக COMயாகைானா பாடிய மோனாவாவலரான wanywhere Aware ACCOUNTING MAT IR