The maker of a $20,000, 9%, 120-day note receivable failed to pay the note on the due

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The maker of a $20,000, 9%, 120-day note receivable failed to pay the note on the due date of July 30. What accounts should be debited and credited by the payee to record the dishonored note receivable?

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Financial Accounting

ISBN: 9780324188035

9th Edition

Authors: Dr Carl S. Warren, Dr James M. Reeve, Philip E. Fess

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