Addams Family Importers sold goods to Acme Decorators for $20,000 on November 1, 2008, accepting Acmes $20,000,
Question:
Addams Family Importers sold goods to Acme Decorators for $20,000 on November 1, 2008, accepting Acme’s $20,000, 6-month, 6% note. Prepare Addams’s November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest.
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11108 Notes Receivable 20000 Sales 20000 123108 Interest ...View the full answer
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Related Book For 
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
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