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I need adjusting entries for the attached image. 2. The balance in the note receivable account is represented by one $15,000 note that was received
I need adjusting entries for the attached image.
2. The balance in the note receivable account is represented by one $15,000 note that was received on October 1, 2019 in payment of an account receivable. The note has a term of six months and bears interest at a rate of 8%, interest being due only at the conclusion of the term of the note. A separate interest receivable account is used for any accrued interest. (Assume 12 months of 30 days each.) Wages and salaries are paid each Friday for the five-day work week that concluded the previous Friday. (In other words, wages and salaries are paid one week in arrears). The last payday was Friday, December 27 for the week ended December 20. Wages and salaries average $600 per day. Holidays are paid absences. day ac thongyroll Payroll taxes average $50 per work dayStep by Step Solution
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