Journalize the Following Transactions in the Accounts of Simmons Company

question 119

Essay

Journalize the following transactions in the accounts of Simmons Company:?
Mar. 1 Received a $60,000, 60-day, 6% note dated March 1 from Bynum Co. on account.18 Received a $25,000, 60-day, 9% note dated March 18 from Solo Co. on account.
Apr. 30 The note dated March 1 from Bynum Co. is dishonored, and the customer's account is charged for the note, including interest.
May 17 The note dated March 18 from Solo Co. is dishonored, and the customer's account is charged for the note, including interest.
July 29 Cash is received for the amount due on the dishonored note dated March 1 plus interest for 90 days at 8% on the total amount debited to Bynum Co. on April 30.
Aug. 23 Wrote off against the allowance account the amount charged to Solo Co. on May 17 for the dishonored note dated March 18.

---

Definitions:

Workplace Diversity

Refers to an inclusive work environment that embraces individual differences among employees, such as race, gender, age, religion, and other attributes.

Environmental Regulations

Laws and rules put in place by governments to protect the environment from harm caused by human activities.

Unethical Behavior

Actions or practices that violate moral or professional guidelines, often resulting in unfair or dishonest outcomes.

Unethical Conduct

Behavior that does not conform to accepted moral norms or standards, often violating ethical principles.