## Answers

Dear Student | ||

Thank you for using homeworklib | ||

Please find below the answer | ||

Statement showing Computations | ||

Particulars | Debit | Credit |

Nov 01 | ||

Note receivable Dr | 55,200.00 | |

To cash | 55,200.00 | |

Dec 11 | ||

Note receivable Dr | 3,600.00 | |

To Sales revenue | 3,600.00 | |

Dec 16 | ||

Note receivable Dr | 16,800.00 | |

To Account receivable | 16,800.00 | |

Dec 31 | ||

Interest receivable Dr | 639.78 | |

To Interest revenue | 639.78 | |

Interest Accrual Calculation | ||

Nov 01 Note= 55200*6%*2/12 | 552.00 | |

Dec 11 Note= 3600*20/365*6% | 11.84 | |

Dec 16 Note= 16800*15/365*11% | 75.95 | |

Total Interest Accrued assuming 365 days in a year | 639.78 | |

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