Question
On August 2, 2015, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account. Record cash received
| On August 2, 2015, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account. |
- Record cash received on note plus interest.
| Prepare Juns journal entry assuming the note is honored by the customer on October 31, 2015.(Use 360 days a year.) |
|
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Payroll Accounting 2017
Authors: Bernard J. Bieg, Judith Toland
27th edition
ISBN: 1305675126, 1305675124, 9781305888586, 1305888588, 978-1337734776
