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Carlson Corporation Engaged in the Following Transactions Involving Promissory Notes $30,000 \$ 30,000

Question 175

Essay

Carlson Corporation engaged in the following transactions involving promissory notes in 2009 and 2010.Journalize these transactions in the journal provided.(Omit explanations.)Round to nearest whole dollar.
2009
1 Sold land to Duane Eppy for $30,000 \$ 30,000 . A six-month, 10 percent note was received in exchange (no gain or loss realized).
1 Received a 30-day, 12 percent note receivable from Tricha Kalson in settlement of her accounts receivable of $500 \$ 500 .

Dec. 1 Tricha Kalson dishonored her note issued 30 days earlier. Round to nearest whole dollar.
31 Recorded accined interest on the note received on September 1.

2010
Mar. 1 Received payment in full from Duane Eppy.  Carlson Corporation engaged in the following transactions involving promissory notes in 2009 and 2010.Journalize these transactions in the journal provided.(Omit explanations.)Round to nearest whole dollar.  2009 1 Sold land to Duane Eppy for   \$ 30,000  . A six-month, 10 percent note was received in exchange (no gain or loss realized). 1 Received a 30-day, 12 percent note receivable from Tricha Kalson in settlement of her accounts receivable of   \$ 500  .  Dec. 1 Tricha Kalson dishonored her note issued 30 days earlier. Round to nearest whole dollar. 31 Recorded accined interest on the note received on September 1.  2010 Mar. 1 Received payment in full from Duane Eppy.

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