Record the following transactions for Redeker Co. in the general journal. 2014 May 1 Received a $9,000,
Question:
Record the following transactions for Redeker Co. in the general journal.
2014
May 1 Received a $9,000, 12-month, 10% note in exchange for Mark Chamber’s outstanding accounts receivable.
Dec. 31 Accrued interest on the Chamber note.
Dec. 31 Closed the interest revenue account.
2015
May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2015.)
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2014 May 1 Notes Receivable 9000 Accounts Receivable Chamber 9000 ...View the full answer
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Related Book For
Accounting Principles
ISBN: 9781118566671
11th Edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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