A. Prepare a bank reconciliation for June 30 B. Prepare any adjusting entries necessary as a result of the bank reconciliation
PROBLEM #2: Prepare journal entries to record the following transactions entered into by the Merando Company: 2011
June 1 Received a $9,000, 6%, 1-year note from Dan Gore as full payment on his account
Nov. 1 Sold merchandise on account to Barlow, Inc., for $12,000, terms 2/10, n/30
Nov. 5 Barlow, Inc., returned merchandise worth $1,000.
Nov. 9 Received payment in full from Barlow, Inc.
Dec. 31 Accrued interest on Gore's note. 2012
June 1 Dan Gore honored his promissory note by sending the face amount plus interest

Date       Account Title and Exp.         Debit           Credit

June 1     6% Note Receivable             $9,000  

2011             Accounts Receivable - Dan Gore        $9,000

              (To Record Note receivable received

                as a full payment on account)

Nov 1      Accounts Receivable              $12,000

2011           - Barlow Inc

                      Sales                                                     $12,000

              (To Record the sales on account)

Nov 1      Sales Return and Allowances $1,000  

2011                 Accounts Receivable - Barlow Inc.     $1,000

              (To Record the sales return and allowances)

Nov 9       Cash                                        $10,780

2011          Sales Discounts                      $220

                ($11,000 *2%)

                        Accounts Receivable - Barlow Inc.    $11,000

                 (To Record the full payment of balance)

Dec 31       Interest Receivable                $315  

2011                   Interest Revenue                                  $315

                         ($9,000 * 6% * 7 /12)

             (To Record the Interest accrued on note for 7 months)  

June 1       Cash                                        $9,540  

2012               Note Receivable                                      $9,000

                       Interest Receivable                                 $315

                       Interest Revenue                                     $225

                       ($9,000 * 6% * 5 /12)

                (To Record the maturity of note receivable)

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.

answer about 4-5 percent of the labor force is unemployed;