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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Hospitality Financial Accounting
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Agnes L.
2nd Edition
9780470598092, 470083603, 978-0470083604
