Question
On January? 1, Southwest Corp. accepted a? one-year note for?$70,000 at? 5% from one of its customers. When the note matured onDecember? 31, the customer
On January? 1, Southwest Corp. accepted a? one-year note for?$70,000 at? 5% from one of its customers. When the note matured onDecember? 31, the customer was unable to? pay, and the companyrecorded the dishonor. The amount of the debit recorded on December31 is? ________.
A. 66500
B. 3500
C. 70000
D. 73500
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
