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    Accounting

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    Exercise 9-12 a-b Sheridan Supply Co. has the following transactions related to notas recaivable during the last 2 months of 2020. The company does not make entries to accrue interast axcopt at Dacember 31. Nov. 1 Loaned $21,600 cash to Manny Lopez on a 12-month, 10% note. Sold goods to Ralph Kremer, Inc., receiving a $54,000, 90-day, 8% note. Dec. 11 16 Received a $53,280, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable. 31 Accrued interest revenue on all notes recelvable. Journalize the transactions for Sheridan Supply Co. (Ignore entrias for cost of goods sold.) (Credit account titles are automatically indented when amount is entered. Do not indont manually. Use 360 days for calculation. Round ansivers to 0 decimal places, e.g. 5,275. Record journal entries in the order presented in the problem) Account Titles and Explanation Debit Credit Nov. 1 Notes Receivable 21600 Cash 21 Dec. 11Notes Receivable Sales Revenue Dec. 16Notes Receivable 969 969 Dec. 31Interest Receivable 21600 Interest Revenue 21

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