The following were selected from among the transactions completed by Caldemeyer Co. during the current year. Caldemeyer Co. sells and installs home and business security systems.
Jan. 3. Loaned $21,600 cash to Trina Gelhaus, receiving a 90-day, 7% note.
Feb. 10. Sold merchandise on account to Bradford & Co., $26,400. The cost of the merchandise sold was $15,840.
13. Sold merchandise on account to Dry Creek Co., $63,600. The cost of merchandise sold was $57,240.
Mar. 12. Accepted a 60-day, 8% note for $26,400 from Bradford & Co. on account.
14. Accepted a 60-day, 9% note for $63,600 from Dry Creek Co. on account.
Apr. 3. Received the interest due from Trina Gelhaus and a new 120-day, 9% note as a renewal of the loan of January 3. (Record both the debit and the credit to the notes receivable account.)
May 11. Received from Bradford & Co. the amount due on the note of March 12.
13. Dry Creek Co. dishonored its note dated March 14.
July 12. Received from Dry Creek Co. the amount owed on the dishonored note, plus interest for 60 days at 12% computed on the maturity value of the note.
Aug. 1. Received from Trina Gelhaus the amount due on her note of April 3.
Oct. 5. Sold merchandise on account to Halloran Co., $12,500. The cost of the merchandise sold was $7,500.
15. Received from Halloran Co. the amount of the invoice of October 5, less 2% discount.
Journalize the entries to record the transactions. Refer to the Chart of Accounts for exact wording of account titles.
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more