Question
Goodie & Good Company received a one-year, $12,000, 9% note from ABC Corporation on April 1, 2010. The fiscal period ends on Dec 31, 2010.
Goodie & Good Company received a one-year, $12,000, 9% note from ABC Corporation on April 1, 2010. The fiscal period ends on Dec 31, 2010. The journal entry recorded by Comet Company on Dec 31, 2010 will include a:
| Debit to Cash for $12,000 | ||
| Credit to Interest Revenue for $1,080 | ||
| Credit to Interest Revenue for $810 | ||
| Debit to Note Receivable for $13,080 |
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Connect For Financial Accounting
Authors: Author
6th Edition
1264140304, 9781264140305
