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On Apri 1, 2016, Tabor Co. received a $6,600 note from a customer in settlement o a $6,600 account receivable from that customer. The note
On Apri 1, 2016, Tabor Co. received a $6,600 note from a customer in settlement o a $6,600 account receivable from that customer. The note bore interest at the rate of 14% per annum and the note plus interest was payable March 31, 2017 Required Show the effects +for addition and- for subtraction) of each of these transactions and adjustments. a. Receipt of the note on April 1, 2016. b. The accrual of interest at December 31, 2016. c. The collection of the note and interest on March 31, 2017. Type of financial statement Amount C
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