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The following data relate to notes receivable and interest for CGH Cable Co., a cable manufacturer...

The following data relate to notes receivable and interest for CGH Cable Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.)

Apr. 10. Received a $135,600, 5%, 60-day note on account.
May 15. Received a $252,900, 7%, 120-day note on account.
June 9. Received $136,730 on note of April 10.
Aug. 22. Received a $110,800, 3%, 45-day note on account.
Sept. 12. Received $258,801 on note of May 15.
30. Received a $183,600, 8%, 60-day note on account.
Oct. 6. Received $111,216 on note of August 22.
18. Received a 142,200, 5%, 60-day note on account.
Nov. 29. Received $186,048 on note of September 30.
Dec. 17

Received $143,385 on note of October 18.

Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles. Assume a 360-day year when calculating interest.

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ekkarill92 answered 2 years ago
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