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6. Journalize the following entries for Lewis the seller/lender and (2) Reed the buyer/borrower. Record all entries for Lewis first. Both companies use the periodic
6. Journalize the following entries for Lewis the seller/lender and (2) Reed the buyer/borrower. Record all entries for Lewis first. Both companies use the periodic inventory method. Assume both companies have a fiscal year-end on Dec. 31. (24 pts) 2019 Nov 21 Lewis Company accepted a 90-day, $1,200.12% note from Reed Company for sale of merchandise. Dec 31 Recorded adjusting entry for accrued interest 2020 Feb 19 Reed Company paid its note on the maturity date. A-L TOE Date GENERAL JOURNAL Account Titles and Description PR Debit Credit Lewis Reed
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Financial Accounting with IFRS Fold Out Primer
Authors: John Wild
5th edition
978-0077408770, 77408772, 978-0077413804
