Question
During 2018, LeBron Corporation accepts the following notes receivable. a. On April 1, LeBron provides services to a customer on account. The customer signs a
During 2018, LeBron Corporation accepts the following notes receivable.
a. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $6,100. b. On June 1, LeBron lends cash to one of the companys vendors by accepting a six-month, 10% note for $10,100. c. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $5,100.
Required:
Record the acceptance of each of the notes receivable. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
1. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $6,100.
journal entry fro april 01
2. On June 1, LeBron lends cash to one of the companys vendors by accepting a six-month, 10% note for $10,100.
journal entry for june 01
3. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $5,100.
journal entry for november 1c.
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