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On January 15, 2020, Sheffield Company received a two-month, 6%, $10400 note from Peter Long for the settlement of his open account. The entry by
On January 15, 2020, Sheffield Company received a two-month, 6\%, $10400 note from Peter Long for the settlement of his open account. The entry by Sheffield Company on March 15, 2020 if Long dishonors the note and collection is expected is: Accounts Receivable-P. Long 10296 Interest Lost 104 Notes Receivable 10400
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