Question
Dec. 6?: Received a $ 16 comma 000?, 90?-day, 5?% note in settlement of an overdue accounts receivable from AM Publishing. Date Accounts Debit Credit
Dec. 6?: Received a $ 16 comma 000?, 90?-day, 5?% note in settlement of an overdue accounts receivable from AM Publishing. Date Accounts Debit Credit 2018 Dec. 6 Dec.? 31: Made an adjusting entry to accrue interest on the AM Publishing note. Date Accounts Debit Credit 2018 Dec. 31 Dec.? 31: Made a closing entry for interest revenue. Date Accounts Debit Credit 2018 Dec. 31 Mar. 6?: Collected the maturity value of the AM Publishing note. ?(Prepare a single compound journal? entry.) Date Accounts Debit Credit 2019 Mar. 6 Jun.? 30: Loaned $ 13 comma 000 cash to MM Music?, receiving a? six-month, 18?% note. Date Accounts Debit Credit 2019 Jun. 30 Oct.? 2: Received a $ 4 comma 000?, 60?-day, 18?% note for a sale to Ying Yang Music. Ignore Cost of Goods Sold. Date Accounts Debit Credit 2019 Oct. 2 Dec.? 1: Ying Yang Music dishonored its note at maturity. ?(Prepare a single compound journal? entry.) Date Accounts Debit Credit 2019 Dec. 1 Dec.? 1: Wrote off the receivable associated with Ying Yang Music. ?(Use the allowance? method.) Date Accounts Debit Credit 2019 Dec. 1 Dec.? 30: Collected the maturity value of the MM Music note. ?(Prepare a single compound journal? entry.) Date Accounts Debit Credit 2019 Dec. 30
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