The Class on Notes Receivable will be run as a Distance Class
in place of the class that was cancelled on January 26th.
Instructions:
1. Read the text, chapter #10, pages 525 - 528.
2. Download and view the Notes Receivable PowerPoint.
3. Download the Schedule of Notes Receivable and calculate the figures for:
- Accrued Revenue
- Interest Earned This Period
- Total Interest Earned
- Total Cash Received
4. Download the General Journal page and complete the following entries:
- a single compound adjusting entry dated December 31st, 2003 for all of the interest earned up to December 31st, 2003;
- five separate transaction entries that record the payments received on the various notes. Note: These must be recorded in chronological order.
5. Email
if you have any questions at all.
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