8.Journalize the following transactions (Assume a 360-day year when calculati

8.Journalize the following transactions (Assume a 360-day
year when calculating interest.):

Mar. 1

Received a 90-day 10% note for $24000 dated March 1 from Batson Co. on account.

May 30

The note of March 1 was dishonored.

9.Journalize the following transactions for Solley Company
that occurred during 2011 and 2012. November 14 2011 Received a $4800.00 90-day 9% note from Alan Hibbetts in payment of his account. December 31 2011 Accrued interest on the Hibbetts note. February 12 2012 Received the amount due from Hibbetts on his note.

Date

Description

Post Ref

Debit

Credit