Record the following transactions in the journal of Birds Eye Music. Explanations are not required. 2009 Dec
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Record the following transactions in the journal of Birds Eye Music. Explanations are not required.
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2009 Dec 19 Received a $6,000, 60-day, 12% note on account from AVC Company. Made an adjusting entry to accrue interest on the AVC Company note. Made a closing entry for interest revenue. 2010 31 31 Feb 17 Jun 1 Oct 31 Collected the maturity value of the AVC Company note. Loaned $12,000 cash to Lincoln Music, receiving a 6-month, 11% note. Received a $5,500, 60-day, 13% note from Ying Yang Music on its past-due account receivable. Dec 1 Collected the maturity value of the Lincoln Music note.
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