Question:Record the following transactions for Pro Line Communications Inc. in the general journal.May 30Accepted a 60-day, 12% note for $11,000 from Photo Master as payment on an account receivable.July 16Accepted a 60-day, 11% note for $6,000 from Impact Images as payment on an account receivable.29Received interest due on Photo Master note. The note is renewed for 45 days at 13% interest.Aug. 15Discounted the note from Impact Images at the bank at a 10% discount rate.28Received full payment of the Photo Master note.Sept. 14Received notice from the bank that the Impact Images note is dishonored. Pro Line Communications Inc. paid the bank for the dishonored note plus interest.Oct. 20The dishonored Impact Images note is paid, plus 10% interest on the maturity value.When required, enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank. Assume 360 days in a year.DATE DESCRIPTION DEBIT CREDITMay 30Jul. 16Jul. 29Aug. 15Aug. 28Sep. 14Oct. 20
RECOMMENDED!!ACC 101-Record the following transactions for Pro Line Communications Inc
How it works
- Paste your instructions in the instructions box. You can also attach an instructions file
- Select the writer category, deadline, education level and review the instructions
- Make a payment for the order to be assignment to a writer
- Download the paper after the writer uploads it
Will the writer plagiarize my essay?
You will get a plagiarism-free paper and you can get an originality report upon request.
Is this service safe?
All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades
Recent Comments