7 value: 0.48 points M8-12 Recording Note Receivable Transactions [LO 8-3 RecRoom Equipment Company received an $9,600, six-month, 8 percent note to settle an $9,600 unpaid balance owed by a customer. a. The note is accepted by RecRoom on November 1, causing the company to increase its Notes Receivable and decrease its Accounts Receivable b. RecRoom adjusts its records for interest earned to its December 31 year-end. C. RecRoom receives the interest on the note's maturity date. d. RecRoom receives the principal on the note's maturity date. Prepare journal entries to record the above transactions for RecRoom. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the receipt of a note on November 1 for $9,600 to settle an outstanding accounts receivable balance of a customer. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Record entry Clear entry View general journal 7 0.48 points M8-12 Recording Note Receivable Transactions [LO 8-3] RecRoom Equipment Company received an $9,600, six-month, 8 percent note to settle an $9,600 unpaid balance owed by a customer. a. The note is accepted by RecRoom on November 1, causing the company to increase its Notes Receivable and decrease its Accounts Receivable b. RecRoom adjusts its records for interest earned to its December 31 year-end. d. RecRoom receives the principal on the note's maturity date. Prepare journal entries to record the above transactions for RecRoom. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the interest accrued on the note as of December 31. Note: Enter debits before credits. Date General Journal Debit Credit X: 31 Record entry Clear entry View general journal 7 value: M8-12 Recording Note Receivable Transactions [LO 8-3] RecRoom Equipment Company received an $9,600, six-month, 8 percent note to settle an $9,600 unpaid balance owed by a customer a. The note is accepted by RecRoom on November 1, causing the company to increase its Notes Receivable and decrease its Accounts Receivable. b. RecRoom adjusts its records for interest earned to its December 31 year-end. d. RecRoom receives the principal on the note's maturity date. Prepare journal entries to record the above transactions for RecRoom. (lf no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the receipt of the interest on the note's maturity date. Note: Enter debits before credits. Date General Journal Debit Credit Record entry Clear entry View general jourmal 7. value: 0.48 points M8-12 Recording Note Receivable Transactions [LO 8-3 RecRoom Equipment Company received an $9,600, six-month, 8 percent note to settle an $9,600 unpaid balance owed by a customer. a. The note is accepted by RecRoom on November 1, causing the company to increase its Notes Receivable and decrease its Accounts Receivable. d. RecRoom receives the principal on the note's maturity date. Prepare journal entries to record the above transactions for RecRoom. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the receipt of the payment for the full principal. Note: Enter debits before credits. Date General Journal Debit Credit Apr 30 Record entry Clear entry View general jounal