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On December 1, Daw Company 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 Company 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.) Journal entry worksheet 1 2 Record the year-end adjustment related to this note, if any. Note: Enter debits before credits. Date December 31 General Journal Debit Credit Record entry Clear entry View general journal < 1 2 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. Date January 15 General Journal Debit Credit View general journal Record entry Clear entry
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