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  3. a. oct. 1 sold $19,000 of merchandise on account,

a. Oct. 1 Sold $19,000 of merchandise on account,...

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Question

Accounting

a. Oct. 1 Sold $19,000 of merchandise on account, 1/10, n/30 to McCormick Industries.
b.

Nov. 1 Received a $19,000, 90-day, 10% note from McCormick Industries to settle its $19,000 unpaid balance.
c. Dec. 31 Accrued interest on the note.
d. Jan. 31 Received the interest on the notes maturity date.
e. Jan. 31 Received the principal on the notes maturity date.

Required:
Prepare the required journal entries. (Round your answer to the nearest whole dollar amount. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
No Date General Journal Debit Credit
1 Oct 01 Accounts Receivable 19,000
1 Sales Revenue 19,000
2 Nov 01 Notes Receivable 19,000
2 Accounts Receivable 19,000
3 Dec 31 317
3 Interest Revenue 317
4 Jan 31 Cash
4 Interest Revenue
5 Jan 31 Cash 19,000
5 Notes Receivable 19,000

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