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On December 1, Daw Co. accepts a $10,000, 45-day, 6% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue
On December 1, Daw Co. accepts a $10,000, 45-day, 6% note from a customer.
- (1) Prepare the year-end adjusting entry to record accrued interest revenue on December 31.
- (2) Prepare the entry required on the note's maturity date assuming it is honored. (Use 360 days a year.)
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Activity Accounting An Activity-Based Costing Approach
Authors: James A. Brimson
1st Edition
0471196282, 978-0471196280
