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Accrue interest revenue on all of the notes in one entry. (Use a 365-day year for ALL interest computations. Rou More info Date Oct 31
Accrue interest revenue on all of the notes in one entry. (Use a 365-day year for ALL interest computations. Rou More info Date Oct 31 Journal Entry Accounts Debit Credit Loaned $18,000 cash to Brett Tell on a one-year, 5% note. Performed service for Turf Masters, receiving a 90-day, 6% note for $7,000. Aug 1 Oct 6 Oct 16 Oct 31 Accrued interest revenue for the year. Received a $3,000, six-month, 10% note on account from Walace Company
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