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NECEVABLES Notes receivable: Basic journal entry On April 12, Torres Company received a $6,900, 60-day, 7% note from Bennett in payment of its accou On
NECEVABLES Notes receivable: Basic journal entry On April 12, Torres Company received a $6,900, 60-day, 7% note from Bennett in payment of its accou On June 11, Bennett paid its note in full, including interest. Required: Prepare the journal entries for Torres Company on April 12 and June 11. Note: To simplify the arithmetic in the problem, use 360 days for the number of days in a year, Date Account Title Debit Credit X 5 Explanation Check 0 Search
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