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

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 $\$ 30,000$ . 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.

---

Definitions:

Rods

Photoreceptor cells in the retina of the eye, responsible for vision at low light levels but not for color vision.

Cones

Photoreceptor cells in the retina of the eye that function best in relatively bright light and are capable of perceiving color and fine detail.

Horizontal Rows

Lines or sequences of items arranged side by side, from left to right, on a plane or surface.

Vertical Columns

In the context of data or information presentation, these are upright divisions in a table or spreadsheet that categorize information for easy comparison and analysis.