Record journal entries for the following transactions of Commissary Productions. Jan. 1, 2018 Issued a $435,530 note to customer June Solkowski as terms of a merchandise sale. The merchandise's cost...



Record journal entries for the following transactions of Commissary Productions.





















Jan. 1, 2018Issued a $435,530 note to customer June Solkowski as terms of a merchandise sale. The merchandise's cost to Commissary is $233,700. Note contract terms included a 36-month maturity date, and a 5% annual interest rate.
Dec. 31, 2018Commissary records interest accumulated for 2018.
Dec. 31, 2019Commissary records interest accumulated for 2019.
Dec. 31, 2020June Solkowski honors the note and pays in full with cash.



If an amount box does not require an entry, leave it blank.If required, round your answers to two decimal places.












































































































Jan. 1, 2018fill in the blank 2fill in the blank 3
fill in the blank 5fill in the blank 6
To record sale in exchange for Notes Receivable
Jan. 1, 2018fill in the blank 8fill in the blank 9
fill in the blank 11fill in the blank 12
To record the cost of sale
Dec. 31, 2018fill in the blank 14fill in the blank 15
fill in the blank 17fill in the blank 18
To record interest accumulated in 2018
Dec. 31, 2019fill in the blank 20fill in the blank 21
fill in the blank 23fill in the blank 24
To record interest accumulated in 2019
Dec. 31, 2020fill in the blank 26fill in the blank 27
fill in the blank 29fill in the blank 30
fill in the blank 32fill in the blank 33
fill in the blank 35fill in the blank 36
To record collection of principal and accumulated interest


Jun 01, 2022
SOLUTION.PDF
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions ยป

Submit New Assignment

Copy and Paste Your Assignment Here
Have files?