Reeves Supply Co

Subject:AccountingPrice: Bought3

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Reeves Supply Co. has the following transactions related to notes receivable during the last 2 months of 2014.Nov. 1 Loaned $15,000 cash to Norma Jeanne on a 1-year, 9% note.Dec. 11 Sold goods to Bob Sharbo, Inc., receiving a $6,750, 90-day, 8% note.16 Received a $4,400, 6-month, 12% note in exchange for Richard Russo’s outstanding accounts receivable.31 Accrued interest revenue on all notes receivable.Instructions(a) Journalize the transactions for Reeves Supply Co.(b) Record the collection of the Jeanne note at its maturity in 2015.View Solution:
Reeves Supply Co has the following transactions related to note