Question
On April 12, Hong Company agrees to accept a 60-day, 10%, $5,300 note from Indigo Company to extend the due date on an overdue accounts
On April 12, Hong Company agrees to accept a 60-day, 10%, $5,300 note from Indigo Company to extend the due date on an overdue accounts payable. What is the journal entry needed to record the transaction by Indigo Company?
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Intermediate Accounting
Authors: kieso, weygandt and warfield.
IFRS Edition
ISBN: 978-1118443965, 1118800532, 9781118800539, 978-0470873991
