During 2024, LeBron Corporation accepts the following notes receivable. 1. On April 1, LeBron provides services to

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During 2024, LeBron Corporation accepts the following notes receivable.
1. On April 1, LeBron provides services to a customer on account. The customer signs a fourmonth, 9% note for $7,000.
2. On June 1, LeBron lends cash to one of the company’s vendors by accepting a six-month, 10% note for $11,000.
3. On November 1, LeBron allows a customer to convert a past-due account receivable to a three-month, 8% note receivable for $6,000.


Required:
Record the acceptance of each of the notes receivable.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 9781260786521

6th Edition

Authors: David Spiceland

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