Question
On August 2, Jun Company receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable. Prepare Jun's journal
On August 2, Jun Company receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account receivable. Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Use 360 days a year.)
Journal entry worksheet
- Record cash received on note plus interest.
| Date | General Journal | Debit | Credit |
| October 31 | |||
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
