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On August 2, 2013, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account. 1. Prepare the
On August 2, 2013, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account.
1.
- Prepare the journal entry assuming the note is honored by the customer on October 31, 2013.
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