Question
018 Dec. 6 6 Received a $ 6 comma 000 $6,000, 90 90-day, 5 5% note in settlement of an overdue accounts receivable from AM
018 Dec. 6 6 Received a $ 6 comma 000 $6,000, 90 90-day, 5 5% note in settlement of an overdue accounts receivable from AM Publishing AM Publishing. 31 Made an adjusting entry to accrue interest on the AM Publishing AM Publishing note. 31 Made a closing entry for interest revenue. 2019 2019 Mar. Mar. 6 6 Collected the maturity value of the AM Publishing AM Publishing note. Jun. 30 Loaned $ 13 comma 000 $13,000 cash to MM Music MM Music, receiving a six-month, 12 12% note. Oct. 2 Received a $ 6 comma 000 $6,000, 60 60-day, 12 12% note for a sale to Utica Music Utica Music. Ignore Cost of Goods Sold. Dec. 1 Utica Music Utica Music dishonored its note at maturity. 1 Wrote off the receivable associated with Utica Music Utica Music. (Use the allowance method.) 30 Collected the maturity value of the MM Music MM Music note
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