EXAMPLES FOR PRACTICE
The following examples are to be journalized by the student after he has become thoroughly familiar with the transactions previously explained:
—Nov. 6—
Received from Jackson & Co. their note for $214.00 without interest, payable in 30 days, in full settlement of account.
—Nov. 6—
Received from David Newman his note for $650.00 with interest at 6%, payable in 30 days, in settlement of account. We discounted this note at First National Bank.
—Nov. 7—
Paid our note given Oct. 6, to National Spice Co., amount $150.00 with interest at 6%. This note was paid by check #11 to Mechanics Bank.
—Nov. 8—