On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment
Question:
On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable.
(1) Compute the maturity date for this note.
(2) Prepare Jun’s journal entry for August 2.
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1 Maturity date August 290 Days 31 Octo...View the full answer
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Related Book For
Financial Accounting Information For Decisions
ISBN: 9781260705584
10th Edition
Authors: John J. Wild
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