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Answer the question and all of the requirements please Consider the following transactions for Mad Dog Music. (i) (Click the icon to view the transactions.)
Answer the question and all of the requirements please
Consider the following transactions for Mad Dog Music. (i) (Click the icon to view the transactions.) 7 GG Publishing. More info 2024 Dec. 6 Received a $6,000,90-day, 10% note in settlement of an overdue accounts receivable from GG Publishing. Dec. 31 Made an adjusting entry to accrue interest on the GG Publishing note. Dec. 31 Made a closing entry for interest revenue. 2025 Mar. 6 Collected the maturity value of the GG Publishing note. Jun. 30 Loaned $13,000 cash to Main Street Music, receiving a six-month, 12% note. Oct. 2 Received a $2,000,60-day, 12% note for a sale to Rythm and Melody. Ignore Cost of Goods Sold. Dec. 1 Rythm and Melody dishonored its note at maturity. Dec. 1 Wrote off the receivable associated with Rythm and Melody. (Use the allowance method.) Dec. 30 Collected the maturity value of the Main Street Music note. Consider the following transactions for Mad Dog Music. (i) (Click the icon to view the transactions.) 7 GG Publishing. More info 2024 Dec. 6 Received a $6,000,90-day, 10% note in settlement of an overdue accounts receivable from GG Publishing. Dec. 31 Made an adjusting entry to accrue interest on the GG Publishing note. Dec. 31 Made a closing entry for interest revenue. 2025 Mar. 6 Collected the maturity value of the GG Publishing note. Jun. 30 Loaned $13,000 cash to Main Street Music, receiving a six-month, 12% note. Oct. 2 Received a $2,000,60-day, 12% note for a sale to Rythm and Melody. Ignore Cost of Goods Sold. Dec. 1 Rythm and Melody dishonored its note at maturity. Dec. 1 Wrote off the receivable associated with Rythm and Melody. (Use the allowance method.) Dec. 30 Collected the maturity value of the Main Street MusicStep by Step Solution
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