Question

The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing: 20Y7 December 7. Received from Unitarian Clothing and Bags Co., on account, a $66,000, 60-day, 6% note dated December 7. December 31. Recorded an adjusting entry for accrued interest on the note of December 7. December 31. Recorded the closing entry for interest revenue. 20Y8 February 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. If required, round the interest to the nearest cent. 20Y7, Dec. 7 Notes Receivable ? 66,000 Accounts Receivable-Unitarian Clothing and Bags Co. 66,000 ? <Dec. 31 Dec. 31 20Y8, Feb. 5

          The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:
20Y7
December 7. Received from Unitarian Clothing and Bags Co., on account, a $66,000, 60-day, 6% note dated December 7.
December 31. Recorded an adjusting entry for accrued interest on the note of December 7.
December 31. Recorded the closing entry for interest revenue.
20Y8
February 5. Received payment of note and interest from Unitarian Clothing & Bags Co.
Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. If
required, round the interest to the nearest cent.
20Y7, Dec. 7 Notes Receivable
?
66,000
Accounts Receivable-Unitarian Clothing and Bags Co.
66,000 ?
<Dec. 31
Dec. 31
20Y8, Feb. 5

The following selected transactions were completed by Interlocking Devices Co., a supplier of zippers for clothing:
20Y7
December 7. Received from Unitarian Clothing and Bags Co., on account, a 66,000, 60-day, 6% note dated December 7.
December 31. Recorded an adjusting entry for accrued interest on the note of December 7.
December 31. Recorded the closing entry for interest revenue.
20Y8
February 5. Received payment of note and interest from Unitarian Clothing Bags Co.
Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. If
required, round the interest to the nearest cent.
20Y7, Dec. 7 Notes Receivable
?
66,000
Accounts Receivable-Unitarian Clothing and Bags Co.
66,000 ?
<Dec. 31
Dec. 31
20Y8, Feb. 5

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