Homework Answers
| Date | Accounts | Debit $ | Credit $ |
| Oct.14 ,2019 | Note Receivable - Amaz Racing | 6,400 | |
| Sales | 6,400 | ||
| Nov.16 ,2019 | Note Receivable - Tipper Racing | 10,500 | |
| Sales | 10,500 | ||
| Dec.13,2019 | Cash | 6,463.12 | |
| Note Receivable - Amaz Racing | 6,400.00 | ||
| Interest Revenue (6,400 x 6% x 60/365 ) | 63.12 | ||
| Dec.31 ,2019 | Interest Receivable | 90.62 | |
| Interest Revenue (10,500 x 7% x 45/365 ) | 90.62 | ||
| Jan.27 ,2020 | Cash | 10,644.99 | |
| Interest Receivable | 90.62 | ||
| Note Receivable - Tipper Racing | 10500.00 | ||
| Interest Revenue ( 10,500 x 7% x 27/365 ) | 54.37 | ||
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