Prepare journal entries to record the following transactions by Ericton Industries: 2014 Jan. 20 Accepted a $
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2014
Jan. 20 Accepted a $ 170,000, 90-day, 9% note dated this day in granting a time extension on the past due account of Steve Soetart.
Feb. 19 Discounted the Steve Soetart note at the bank at 11.5%.
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Jan 20 Notes Receivable 17000000 Accounts Receivable Steve Soetart 17000000 Received no...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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