acc 01 week 11 chapter 9 p9 3 p9 4 p9 5 494826

PROBLEM 9-5The following selected transactions are from VP Company:Dec Accepted a , 90-day, note dated this day granting Aaron Burr a time extension on his account receivable.Made an adjusting entry to record the accrued interest on the Burr note.JanAccepted a , 90-day, note dated this day granting George Clinton a time extension on his past-due account receivable.FebReceived payment of principal plus interest from Burr for the note of December 1.AprClinton dishonored his note when presented for payment.JunAccepted a , 60-day, note dated this day in granting Elbridge Gerry a time extension on his past due account.AugGerry refuses to pay the note that was due Aug 9. Prepare the journal entry to charge the dishonored note plus accrued interest to Gerry’s account receivable.SepReceived payment from Gerry for the maturity value of his dishonored note plus interest for the 50 days past the maturity of the noteNovAccepted a , 120-day, note dated this day from Daniel Tompkins granting a time extension on his account.DecWrote off the Clinton account against Allowance for Doubtful Accounts.DecMade an adjusting entry to record accrued interest on the Tompkins note.Required1. Prepare journal entries to record these transactions and events.Check Feb 29, Cr. Interest RevenueAug 14, Cr. Interest Revenue 6.00%200$ 320$ 6.00%22,000$ 5.00%32,000$ 6.00%9.00%312010201120,000$ 36,000$ 1162916313111281410???????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????