Question
(12 points) 28.Bob had the following select transactions. Prepare journal entries to record the transactions. Bob prepares adjusting entries once a year on December 31
(12 points)
28.Bob had the following select transactions.
Prepare journal entries to record the transactions. Bob prepares adjusting entries once a year on December 31
Apr. 1, 2022
Accepted Gates Company's 12-month. 12% note in settlement of a $30,000 account
receivable
July 1, 2022
Loaned $50.000 cash to Eric Hatfield on a 9-month, 10% note.
Dec. 31, 2022
Accrued interest on all notes receivable
Apr. 1, 2023
Received principal plus interest on the Gates note.
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The Fundamental Principles Of Finance
Authors: Robert Irons
1st Edition
1138477524, 9781138477520
