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On December 1, Daw Co. accepts a $48,000, 45-day, 10% note from a customer. (1) Prepare the year-end adjusting entry to record accrued interest revenue
On December 1, Daw Co. accepts a $48,000, 45-day, 10% 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.) View transaction list Journal entry worksheet 1 Record the journal entry on the note's maturity date assuming it is honored. Assume Daw Company does not prepare reversing entries. Note: Enter debits before credits. Debit Credit Date Jan 15 General Journal Cash Interest receivable Interest revenue Record entry Clear entry View general journal
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