Question
Brad Company had the following transactions during the current year: May 7 June 1 July 21 Sept 15 Received an $25,200, 75-day, 10% note from
Brad Company had the following transactions during the current year: May 7 June 1 July 21 Sept 15 Received an $25,200, 75-day, 10% note from S. Sabtini in payment of account receivable Wrote off customer M. Rotter's account, $2,700. (Brad Company uses the allowance method of recording credit losses.) S. Sabtini paid note due today M. Rotter paid account written off on June 1. Dec 19 Received a $36,000, 60-day, 9% note from Z. Inman on account.
Required:
.
Record the above transactions in general journal form.
b. Make any necessary adjusting entries for interest at December 31.
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