Question
Boston Corporation sold goods to Boise Company for $50,000 on September 1, 2021, accepting Boises $50,000, 6-month, 8% note. Required: (a) Prepare the journal entry
Boston Corporation sold goods to Boise Company for $50,000 on September 1, 2021, accepting Boises $50,000, 6-month, 8% note.
Required:
(a) Prepare the journal entry required by Boston Corporation on September 1.
(b) Prepare Bostons necessary December 31 annual adjusting entry for accrued interest.
(c) Prepare the journal entry to record the collection of the note and interest on March 1, 2022 by
Boston.
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Accounting Costing And Management
Authors: Riad Izhar, Janet Hontoir
2nd Edition
9780198328230
