On July 1, West Tennessee Supply Group sold $15,000 of supplies to Russell Research Labs in exchange

Question:

On July 1, West Tennessee Supply Group sold $15,000 of supplies to Russell Research Labs in exchange for a 7 month, 8% note receivable.
Required
Assuming that West Tennessee Supply Group prepares adjusting journal entries monthly, prepare all entries necessary in July to account for the note. Ignore any effects on inventory or cost of goods sold.
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Financial ACCT2

ISBN: 978-1111530761

2nd edition

Authors: Norman H. Godwin, C. Wayne Alderman

Question Posted: