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Feb. 3, 2018: Recorded credit sales of $93,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2018 Feb. 3 Oct. 1, 2018:
Feb. 3, 2018: Recorded credit sales of $93,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2018 Feb. 3 Oct. 1, 2018: Loaned $20,000 to Karen Phillip, an executive with the company, on a one-year, 15% note. Date Accounts and Explanation Debit Credit 2018 Oct. 1 Dec. 31, 2018: Accrued interest revenue on the Phillip note. Date Accounts and Explanation Debit Credit 2018 Dec. 31 Oct. 1, 2019: Collected the maturity value of the Phillip note. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit 2019 Oct. 1 2018 Feb. 3 Oct. 1 Recorded credit sales of $93,000. Ignore Cost of Goods Sold. Loaned $20,000 to Karen Phillip, an executive with the company, on a one-year, 15% note. Accrued interest revenue on the Phillip note. Dec. 31 2019 Oct. 1 Collected the maturity value of the Phillip
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