Question:

How would I journalize these entries?

by  |  earlier

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1) Received a check for $300 from Eastwood Supply for return of store supplies that were originally purchased for cash

2) Received a check for $3060 from Club House Apparel in payment of a $3000 notes recievable. $60 of the total was for interest earned.

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1 ANSWERS


  1. 1. Cash  $300 (Dr.)

    Supplies Inventory 300 (Cr.)

    2. Cash $3,060 (Dr.)

    Notes Receivable 3,000 (Cr.)

    Interest Revenue 60 (Cr.)

    Hope this helps!

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