Given the following transactions of Entrepreneur Ark, what journal entries would you make, as its accountant, to book the following transactions? June 23. Received a $52,000, 90-day, 8% note dated June 23 from BEDA Express on account b. Sept. 21. The note is dishonored by BEDA Oct. 21. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to BEDA Express on September 21 C.
Given the following transactions of Entrepreneur Ark, what journal entries would you make, as its accountant, to book the following transactions? June 23. Received a $52,000, 90-day, 8% note dated June 23 from BEDA Express on account b. Sept. 21. The note is dishonored by BEDA Oct. 21. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to BEDA Express on September 21 C.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 2CE
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Question
![8. Given the following transactions of Entrepreneur Ark, what journal entries would you make,
as its accountant, to book the following transactions?
June 23. Received a $52,000, 90-day, 8% note dated June 23 from BEDA Express on
account
b. Sept. 21. The note is dishonored by BEDA
C.
Oct. 21. Received the amount due on the dishonored note plus interest for 30 days at
10% on the total amount charged to BEDA Express on September 21
1.
2.
3.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0cf45048-0add-4039-bf0d-95113fd14c78%2Ffb62d613-400d-49eb-830b-7399a766aa4f%2F3lssiry_processed.png&w=3840&q=75)
Transcribed Image Text:8. Given the following transactions of Entrepreneur Ark, what journal entries would you make,
as its accountant, to book the following transactions?
June 23. Received a $52,000, 90-day, 8% note dated June 23 from BEDA Express on
account
b. Sept. 21. The note is dishonored by BEDA
C.
Oct. 21. Received the amount due on the dishonored note plus interest for 30 days at
10% on the total amount charged to BEDA Express on September 21
1.
2.
3.
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