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i want deep explanation of each one, first explain the question step by step then move forward. example in Dec1, first explain to me the
i want deep explanation of each one, first explain the question step by step then move forward. example in Dec1, first explain to me the context of the question as I am confused about the word doshonest what does it mean exactly in bussiness, then why the three accounts are invloved and why they are involved and why ther are debit or credit. i need to know the way to deal with this questions i attached the correct solution but i do not know the reason? Dec. 1: Ying Yang Music dishonored its note at maturity. (Prepare a single compound journal entry.) Date Accounts Debit Credit 2019 Dec. 1 Accounts Receivable-Ying Yang Music 5,082 Note Receivable-Ying Yang Music 5,000 Interest Revenue 82 Dec. 1: Wrote off the receivable associated with Ying Yang Music. Use the allowance method.) Date Accounts Debit Credit 2019 Dec. 1 Allowance for Bad Debts 5,082 Accounts Receivable-Ying Yang Music 5,082 Dec. 30. Collected the maturity value of the MM Music note. (Prepare a single compound journal entry.) Date Accounts Debit Credit 2019 Dec 30 Cash 13,650 Note Receivable-MM Music 13.000 Interest Revenue 650
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