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More Info 2018 Dec. 6 Received a $4,000, 90-day, 9% note in settlement of an overdue accounts receivable from GG Publishing. Made an adjusting entry
More Info 2018 Dec. 6 Received a $4,000, 90-day, 9% note in settlement of an overdue accounts receivable from GG Publishing. Made an adjusting entry to accrue interest on the GG Publishing note Made a closing entry for interest revenue. 31 31 2019 Mar. 6 Jun. 30 Oct. 2 Collected the maturity value of the GG Publishing note. Loaned $14,000 cash to Providence Music, receiving a six-month, 14% note. Received a $1,000, 60-day, 14% note for a sale to Voice Publishing. Ignore Cost of Goods Sold Voice Publishing dishonored its note at maturity. Wrote off the receivable associated with Voice Publishing. (Use the allowance method.) Collected the maturity value of the Providence Music note Dec. 1 1 30
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