Gwynne Supply Co. has the following transactions related to notes receivable during the last 2 months of the year.
| Nov. Don't use plagiarized sources. Get Your Custom Essay on gwynne supply co has the following transactions related to notes receivable during t 534036 For $10/Page 0nly | 1 | Loaned $60,000 cash to B. Akey on a 1-year, 7% note. |
| Dec. | 11 | Sold goods to R. P. Mayrl, Inc., receiving a $3,600, 90-day, 8% note. |
| 16 | Received a $12,000, 6-month, 9% note to settle an open account from M. Colvin. | |
| 31 | Accrued interest revenue on all notes receivable. |
Instructions
Journalize the transactions for Gwynne Supply Co. (Omit cost of goods sold entries.)
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