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Accounting for Notes Receivable On November 30, 2019, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $125,000, 9% note
Accounting for Notes Receivable On November 30, 2019, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $125,000, 9% note receivable. Thomas paid Tucker the full amount of interest and principal on April 30, 2020. Required: Prepare the necessary entries for Tucker to record the transactions described above. For a compound transaction, if an amount box does not require an entry, leave it blank. If required, round amounts to the nearest dollar. Nov. 30, 2019 Record issuance of the note Dec. 31, 2019 Record accrued interest income Apr. 30, 2020 Record collection of note receivable
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