Question
On February 7, McGraw Company sold goods on account to Hill Enterprises for $2,500, terms 2/10, n/30. On March 9, Hill gave McGraw a 60-day,
On February 7, McGraw Company sold goods on account to Hill Enterprises for $2,500, terms 2/10, n/30. On March 9, Hill gave McGraw a 60-day, 10% promissory note in settlement of the account. Record the sale and the acceptance of the promissory note on the books of McGraw Company.
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
17th Edition
032459237X, 978-0324592375
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