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Exercise 12 These transactions took place for Concord Corporation 2021 May 1 Received a $5,300, 12 month, 3% note in exchange for an outstanding account

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Exercise 12 These transactions took place for Concord Corporation 2021 May 1 Received a $5,300, 12 month, 3% note in exchange for an outstanding account receivable from R. Stoney. Dec. 31 Accrued interest revenue on the R. Stoney note. 2022 1 Received principal plus interest on the R. Stoney natt. (Ne interest has been accrued since December 31, 2021.) Record the transaction in the general journal. The company does not make entries to accrue interest excnpt at December 31.[Credit account tites are automatically indete when amount is entered. Do not indent manually. Record journal entries in the order present in the problem.) Dato Account Titles and Explanation Debit May Credit SHOW LIST OF ACCOUNTS TO TEXT

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