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 Sauer Co

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 Sauer Co. claws its books monthly. On June 30, selected ledger account balances are Notes Receivable $47.000 Interest Receivable 285 Notes Receivable include the following. 
D May a;16 aker  Ed:: Inc. Face $12,000 Term 60 days Interest  7, May 25 June 30 Masasi Co. Pelsma Corp. 20.000 15.000 60 days 6 months WV. 
During Jul, the folkwving transactions vvere MY 1: MAIL': Vat:alercrCe:1)itcrc'ardcilts7ht.credit  card service charge is 3„. 14 Added $510 to Sauer Co. credit card customer balances for finance charges on unpaid balances. 15 Received payment in full from Eddy Inc. on the amount due. 24 Received notice that the Masasi Co. note has been dishonored. (Assume that Masasi Co. is expected to pay in the future.) Instructions (a) Journalize the July transactions and the July 31 adjusting entry for accrued interest receivable. (Interest is computed using 360 days.) (b) Enter the balances at July t in the receivable accounts. Post the entries to all of the (b) accounts rezmy receivable accounts. $28.010 (c) Show the balance sheet presentation of the receivable accounts at July 31.