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On January 15, 2020, Marigold Company received a two-month, 9%, $8200 note from Peter Long for the settlement of his open account. The entry by
On January 15, 2020, Marigold Company received a two-month, 9%, $8200 note from Peter Long for the settlement of his open account. The entry by Marigold Company on March 15, 2020 if Long dishonors the note and collection is expected is: Accounts Receivable-P. Long 8200 Notes Receivable 8200 Accounts Receivable-P. Long 8323 Notes Receivable 8200 Interest Revenue 123 Accounts Receivable-P. Long 8077 Interest Lost 123 Notes Receivable 8200 8323 Bad Debt Expense Notes Receivable 8323
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