Bradson Merchandising, which has a December 31 year end, and uses a periodic inventory system, completed the following transactions during 2018 and 2019: 2018
Oct. 1 Sold merchandise to Bravo Links, terms n / 60 , \$ 4,000.
Oct. 3 Negotiated with Bravo Links to exchange the account receiv able for a 120 -day, $10 \%$ note for $\$ 4,000$.
Dec. 31 Accrued interest on the Bravo Links note.

2019
Feb. 1 Collected in full from Bravo Links Prepare the necessary journal entries to record the above transactions.

Question

Bradson Merchandising, which has a December 31 year end, and uses a periodic inventory system, completed the following transactions during 2018 and 2019: 2018
Oct. 1 Sold merchandise to Bravo Links, terms n / 60 , \$ 4,000.
Oct. 3 Negotiated with Bravo Links to exchange the account receiv able for a 120 -day, $10 \%$ note for $\$ 4,000$.
Dec. 31 Accrued interest on the Bravo Links note.

2019
Feb. 1 Collected in full from Bravo Links Prepare the necessary journal entries to record the above transactions.

Quizplus · Accepted Answer

The Answer of Bradson Merchandising, which has a December 31 year end, and uses a periodic inventory system, completed the following transactions during 2018 and 2019: 2018
Oct. 1 Sold merchandise to Bravo Links, terms n / 60 , \$ 4,000.
Oct. 3 Negotiated with Bravo Links to exchange the account receiv able for a 120 -day, $10 \%$ note for $\$ 4,000$.
Dec. 31 Accrued interest on the Bravo Links note.

2019
Feb. 1 Collected in full from Bravo Links Prepare the necessary journal entries to record the above transactions.

Bradson Merchandising, Which Has a December 31 Year End, and Uses