Journalize the transactions.

On January 1, 2014, Morfitt Company had Accounts Receivable $98,000 and Allowance for Doubtful Accounts $8,100. Morfitt Company prepares financial statements annually. During the year, the following selected transactions occurred.

Jan. 5

Sold $10,800 of merchandise to Motte Company, terms n/30.

Feb. 2

Accepted a $10,800, 4-month, 9% promissory note from Motte Company for the balance due.

12

Sold $13,500 of merchandise to Gitchel Company and accepted Gitchel”s $13,500, 2-month, 8% note for the balance due.

26

Sold $9,000 of merchandise to Benedict Co., terms n/10.

Apr. 5

Accepted a $9,000, 3-month, 8% note from Benedict Co. for the balance due.

12

Collected Gitchel Company note in full.

June 2

Collected Motte Company note in full.

July 5

Benedict Co. dishonors its note of April 5. It is expected that Benedict will eventually pay the amount owed.

15

Sold $12,000 of merchandise to Kriley Co. and accepted Kriley”s $12,000, 3-month, 12% note for the amount due.

Oct. 15

Kriley Co.”s note was dishonored. Kriley Co. is bankrupt, and there is no hope of future settlement.

Instructions

Journalize the transactions.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Benefits of our college essay writing service

  • 80+ disciplines

    Buy an essay in any subject you find difficult—we’ll have a specialist in it ready

  • 4-hour deadlines

    Ask for help with your most urgent short tasks—we can complete them in 4 hours!

  • Free revision

    Get your paper revised for free if it doesn’t meet your instructions.

  • 24/7 support

    Contact us anytime if you need help with your essay

  • Custom formatting

    APA, MLA, Chicago—we can use any formatting style you need.

  • Plagiarism check

    Get a paper that’s fully original and checked for plagiarism

What the numbers say?

  • 527
    writers active
  • 9.5 out of 10
    current average quality score
  • 98.40%
    of orders delivered on time
error: