The following data relate to notes receivable and interest for CGH Cable Co., a cable manufacturer and supplier. (All notes are dated as of the day they are received.) Apr. 10 Received a $141,600, 5%, 60-day note on account. May 15 Received a $297,600, 8%, 120-day note on account. June 9 Received $142,780 on note of April 10. Aug. 22 Received a $146,000, 3%, 45-day note on account. Sept. 12 Received $305,536 on note of May 15. 30 Received a $195,000, 9%, 60-day note on account. Oct. 6 Received $146,548 on note of August 22. 18 Received a $142,800, 6%, 60-day note on account. Nov. 29 Received $197,925 on note of September 30. Dec. 17 Received $144,228 on note of October 18. Journalize the entries to record the transactions.
CHART OF ACCOUNTS
CGH Cable Co.
General Ledger
ASSETS
110 Cash
111 Petty Cash
120 Accounts Receivable
129 Allowance for Doubtful Accounts
132 Notes Receivable
141 Merchandise Inventory
145 Office Supplies
146 Store Supplies
151 Prepaid Insurance
181 Land
191 Store Equipment
192 Accumulated Depreciation-Store Equipment
193 Office Equipment
194 Accumulated Depreciation-Office Equipment
LIABILITIES
210 Accounts Payable
211 Salaries Payable
213 Sales Tax Payable
214 Interest Payable
215 Notes Payable
EQUITY
310 Owner, Capital
311 Owner, Drawing
312 Income Summary
REVENUE
410 Sales
610 Interest Revenue
EXPENSES
510 Cost of Merchandise Sold
520 Sales Salaries Expense
521 Advertising Expense
522 Depreciation Expense-Store Equipment
523 Delivery Expense
524 Repairs Expense
529 Selling Expenses
530 Office Salaries Expense
531 Rent Expense
532 Depreciation Expense-Office Equipment
533 Insurance Expense
534 Office Supplies Expense
535 Store Supplies Expense
536 Credit Card Expense
537 Cash Short and Over
538 Bad Debt Expense
539 Miscellaneous Expense
710 Interest Expense