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Can anyone help me with this problem? Thanks! Samberg Inc had the following transactions Oct 1 - Sold $19.000 of merchandise on account, 1/10. n/30
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Samberg Inc had the following transactions Oct 1 - Sold $19.000 of merchandise on account, 1/10. n/30 to McCormick Industries Nov. 1 - Received a $19.000.90-day. 10% note from McCormick Industries to settle its $19,000 unpaid balance. Dec 31 - Accrued interest on the note Jan. 31 - Received the interest on the note's maturity date. Jan 31 - Received the principal on the note's maturity date Prepare the required journal entries (Round your answer to the nearest whole dollar amount If no entry is required for a transaction/event, select "No Journal Entry Required" in the First account field.) Record the entry for sale of merchandise on account to McCormick Industries. Record the entry for acceptance of promissory note in exchange of accounts receivable from McCormick Industries Record the entry for interest accrued on promissory note received from McCormick Industries Record the entry for interest received, from McCormick Industries, on the note's maturity date. Record the entry for payment received from McCormick Industries the principal on the note's maturity dateStep by Step Solution
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