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Accounting for Notes Receivable On November 30, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $58,500, 12% note
Accounting for Notes Receivable On November 30, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $58,500, 12% note receivable. Thomas paid Tucker the full amount of interest and principal on April 30. Required: Prepare the necessary entries for Tucker to record the transactions described above assuming a December 31 year end. If an amount box does not require an entry, leave it blank. Round your final answer to the nearest dollar. Nov. 30 Dec. 31 Apr. 30 (Record issuance of the note) (Record accrued interest income) (Record collection of note receivable)
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