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7. These transactions took place for The Popcorn Company during the years 2021 and 2022. Journalize each transaction on the books of The Popcorn
7. These transactions took place for The Popcorn Company during the years 2021 and 2022. Journalize each transaction on the books of The Popcorn Company. (8 points) 2021 May 1 Received a $15,000, 1-year, 9 % note in exchange for an outstanding account receivable from Tim Foley. Dec. 31 Accrued interest revenue on the Tim Foley note. 2022 May 1 Received principal plus interest on the Tim Foley note. (No interest has been accrued since December 31, 2021.)
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
