Question
Journalize the following transactions: a. b. C. Besser Co. recorded a 90-day, $15,000 note at 8% for a time extension of a past-due account
Journalize the following transactions: a. b. C. Besser Co. recorded a 90-day, $15,000 note at 8% for a time extension of a past-due account of Albert Co. Collected the Albert Co. note on maturity date. Assuming Albert Co. defaulted in transaction b, record the dishonored note. (Record debits first, then credits. Exclude explanations from journal entries.) a. Besser Co. recorded a 90-day, $15,000 note at 8% for a time extension of a past-due account of Albert Co. a. Journal Entry Accounts PR Dr. Cr.
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Fundamental Accounting Principles
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
20th Edition
978-0078110870
