On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment

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On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable.

(1) Compute the maturity date for this note.

(2) Prepare Jun’s journal entry for August 2.

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Financial Accounting Information For Decisions

ISBN: 9781260705584

10th Edition

Authors: John J. Wild

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Question Posted: Aug 23, 2021 07:56 AM

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On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment

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1 Maturity date August 290 Days 31 Octo...View the full answer

Financial Accounting Information For Decisions

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