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Flash Running Shoes reports the following: (Click the icon to view the information.) Journalize all entries required for Flash Running Shoes. (Record debits first, then
Flash Running Shoes reports the following: (Click the icon to view the information.) Journalize all entries required for Flash Running Shoes. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) May 4, 2018: Recorded credit sales of $100,000. Ignore Cost of Goods Sold. Date Accounts and Explanation Debit Credit 2018 May 4 Sep. 1. 2018: Loaned $18,000 to Tess Price, an executive with the company, on a one-year, 7% note Date Accounts and Explanation Debit Credit 2018 Sep. 1 More Info 2018 Dec 31, 2018: Accrued interest revenue on the Price note. May 4 Sep. 1 Dec. 31 2019 Recorded credit sales of $100,000. Ignore Cost of Goods Sold. Loaned $18,000 to Tess Price, an executive with the company, on a one-year, 7% note. Accrued interest revenue on the Price note. Date Accounts and Explanation Debit Credit 2018 Sep. 1 Collected the maturity value of the Price note. Dec. 31 Print Done Sep. 1, 2019: Collected the maturity value of the Price note. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit 2019 Sep. 1
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