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Sage Hill Inc. closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $ 24,000. Notes Receivable include the following.

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Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. (Post entries in the order of journal entries posted in the previous part.)

Sage Hill Inc closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end, On June 30, the Notes Receivable account balance is $ 24,000. Notes Receivable include the following Maker Term Interest Rate Date Face Value Maturity Date 90 days 8% Coote Inc April 21 $6,000 July 20 10% Brady Co 7,200 60 days July 24 May 25 6% December 31 BMG Corp 10,800 June 30 6 months During July, the following transactions were completed, July 5 14 Made sales of $4,890 on Sage Hill Inc. credit cards. Made sales of $ 500 on Visa credit cards. The credit card service charge is 4%. Received payment in full from Coote Inc, on the amount due. 20 .24 Received payment in full from Brady Co, on the amount due. 4890 July 5 Accounts Receivable 4,890 Sales 480 July 14 Cash 20 Credit Card Expense 500 Sales Revenue July 20 : Cash 6,120 6.000 Wotes Receivable Interest Revenue 120 July 24, Cash 7,320 Notes Receivable 7.200 Interest Revenue 120 InfoBasalah - / 15 = A Question 2 of 5 6,120 July 20 Cash 6,000 Notes Receivable 120 Interest Revenue 7.320 July 24 Cash 7,200 Notes Recelvable 120 Interest Revenue 54 July 31 : Interest Receivable 54 Interest Revenue e Textbook and Media Enter the balances at July 1 in the receivable accounts and post the entries to all of the receivable accounts. Post entre order of journal entries posted in the previous part.) Notes Receivable Accounts Receivable Interest Receivable

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