4.

BEEF Company
NOTES INTEREST
DATE PARTICULARS DEBIT CREDIT DATE\ RECEIVABLE RECEIVABLE CURRENT NONCURRENT
2023 12/31/23 2,000,000 - 500,000 1,500,000
Jan. 1 Notes receivable 2,500,000 / 12/31/24 1,500,000 - 500,000 1,000,000
Accumulated depriciation 4,200,000 / 12/31/25 1,000,000 - 500,000 500,000
Loss on sale 300,000 /
Equipment 7,000,000 / / / /
/ / /
Dec. 31 Cash 750,000 / / / /
Note receivable 500,000 /
Interest income (2,500,000 x 10% x 12/12) 250,000 /

2024
Dec. 31 Cash 700,000
Note receivable 500,000 /
Interest income (2,000,000 x 10% x 12/12) 200,000

2025
Dec. 31 Cash 650,000
Note receivable 500,000
Interest income (1,500,000 x 10% x 12/12) 150,000 /

5. BRISKET Company
NOTES INTEREST
DATE PARTICULARS DEBIT CREDIT DATE\ RECEIVABLE RECEIVABLE CURRENT NONCURRENT
2023 12/31/23 6,000,000 405,000 1,000,000 5,000,000
Apr. 1 Notes receivable 6,000,000 / 12/31/24 5,000,000 337,500 1,000,000 4,000,000
Cash 6,000,000 / 12/31/25 4,000,000 270,000 1,000,000 3,000,000
Dec. 31 Interest receivable (6,000,000 x 9% x 9/12) 405,000 / / / / /
Interest income 405,000 / / / / /
/ / / /
2024
Mar. 31 Cash (6,000,000 / 6years) 1,000,000 /
Notes receivable 1,000,000 /

31 Cash (6,000,000 x 9%) 540,000 /

Interest receivable (6M x 9% x 9/12) 405,000 /
Interest income (6M x 9% x 3/12) 135,000 /

Dec. 31 Interest receivable (5M x 9% x 9/12) 337,500 /

Interest income 337,500 /

2025
Mar. 31 Cash (6,000,000 / 6years) 1,000,000 / 7
Notes receivable 1,000,000 / 9
16
31 Cash (5,000,000 x 9%) 450,000 - 16 4
Interest receivable (5M x 9% x 9/12) 337,500 - 15 5
Interest income (5M x 9% x 3/12) 112,500 - 63

Dec. 31 Interest receivable (4M x 9% x 9/12) 270,000 /

Interest income 270,000 /

6. CHUCK Company
DATE PARTICULARS DEBIT CREDIT
2023
Jan. 1 Notes receivable 5,000,000 / Face amount, 1/1/23 5,000,000
Cash 5,000,000 / Add: interest, 2023 (5,000,000 x 10%) 500,000
 Total 5,500,000
Dec. 31 Interest receivable (5,000,000 x 10%) 500,000 / Add: interest, 2024 (5,500,000 x 10%) 550,000
Interest income 500,000 / Total 6,050,000
Add: interest,2025 (6,050,000 x 10%) 605,000
2024 Total 6,655,000
Dec. 31 Interest receivable (5,500,000 x 10%) 550,000 / Add: interest, 2026 (6,655,000 x 10%) 665,500
Interesr income 550,000 / Total 7,320,500

ACCRUED INTEREST
DATE PARTICULARS DEBIT CREDIT DATE PRINCIPAL + INTEREST PRINCIPAL RECEIVABLE
2026 12/31/23 5,500,000 5,000,000 500,000
Dec. 31 Cash 7,320,500 / 12/31/24 6,050,000 5,000,000 1,050,000
Notes receivable 5,000,000 / 12/31/25 6,655,000 5,000,000 1,655,000
Interest receivable 2,320,500 12/31/26 7,320,500 5,000,000 2,320,500