On March 1 , 2 0 X 1 , Lynley Corp received a $ 2 9 , 0 0 0 , 1 2 month, 1 2 note in exchange for services provided to a customer The note's face value plus interest will be due when the note matures on March 1 , 2 0 X 2 Required Prepare the following journal entries related to this note The entry to record the issuance of the note on March 1 , 2 0 X 1 The entry to record the accrual of interest on December 3 1 , 2 0 X 1 , and The entry to record the collection of the note and interest on March 1 , 2 0 2 Note Round all interest calculations to the nearest whole month and whole dollar Do not show currency symbols, decimals or cents in your numerical responses

Question

On March 1 , 2 0 X 1 , Lynley Corp  received a $ 2 9 , 0 0 0 , 1 2   month, 1 2   note in exchange for services provided to a customer  The note's face value plus interest will be due when the note matures on March 1 , 2 0 X 2   Required  Prepare the following journal entries related to this note  The entry to record the issuance of the note on March 1 , 2 0 X 1 The entry to record the accrual of interest on December 3 1 , 2 0 X 1 , and The entry to record the collection of the note and interest on March 1 , 2 0 2   Note  Round all interest calculations to the nearest whole month and whole dollar  Do not show currency symbols, decimals or cents in your numerical responses

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Question

On March 1 , 2 0 X 1 , Lynley Corp. received a $ 2 9 , 0 0 0 , 1 2 - month,

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