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On April 1, a company provides services to one of its customers for $19,000. As payment for the services, the company accepts a six-month, 8%
On April 1, a company provides services to one of its customers for $19,000. As payment for the services, the company accepts a six-month, 8% note from the customer.
Record the acceptance of the note receivable on April 1 and the cash collection on October 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.)
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