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Journalize the following transactions for Lucite Company. Assume 360 days per year November 14: Received a $4,800.00, 90-day, 996 note from Alan Albertson in payment
Journalize the following transactions for Lucite Company. Assume 360 days per year November 14: Received a $4,800.00, 90-day, 996 note from Alan Albertson in payment of his account. Nov. 14 Notes Receivable 4,800 Accounts Receivable 4,800 December 31: Accrued interest on the Albertson note. Round your answers to two decimal places. Dec. 31 Interest Receivable 108.00x Interest Revenue 108.00X February 12: Received the amount due from Albertson on his note. If an amount box does not require an entry, leave it blank. Round your answers to two decimal places. Feb. 12 Cash 2 Cash 4,906.52 x Interest Receivable Interest Revenue Notes Receivable 108.00X 50.89 4,800
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