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Multi Media Ltd. completed the following transactions: September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days. November 1, 2016: Accepted
Multi Media Ltd. completed the following transactions:
- September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days.
- November 1, 2016: Accepted a one-year, 12% note from Inga Corporation to settle its account.
- December 31, 2016: Accrued interest on the note from Inga Corporation (round to the nearest dollar).
- November 1, 2017: Received amount due from Inga Corporation.
Required:
Record entries for the above transactions.
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MIS Management Information Systems
Authors: Hossein Bidgoli
8th edition
978-1337406932, 1337406937, 978-1337406925, 1337406929, 978-0357004357
