Perform the following exercises in which you must analyze the methods to evaluate accounts receivable, perform notes receivable exercises and define the different types of accounts receivable: Define and explain short-term and long-term accounts receivable. Equipos y Más a is an electronic equipment company and had several notes receivable. Journalizes the entries of the following accounts receivable:
|
Date |
Transaction |
|
10 of February |
A note payable for $ 150,000 was received with a 4% term and 60 days to pay. |
|
12 of march |
A note payable for $ 185,000 was received with a 6% term and 120 days to pay. |
|
3 of April |
Received $ 150,984 of the February 10 note payable. |
|
16 of may |
A note payable of $ 125,000 was received with a 5% term and 40 days to pay. |
|
2 of June |
$ 188,640.80 was received from the March 12 note payable. |
|
11 of October |
A note payable of $ 210,000 was received with a term of 8% and 90 days for payment. |
|
11 of November |
$ 214,126.08 was received from the October 11 account payable. |
