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On March 1, Klaus Company accepted a 60-day, 9%,$14,600 note receivable from J. Noel in exchange for his accoint receivable Read the reguirements Requirement 1.
On March 1, Klaus Company accepted a 60-day, 9%,$14,600 note receivable from J. Noel in exchange for his accoint receivable Read the reguirements Requirement 1. Journalize the transaction on March 1. (Record debits first, then ccedits Selna the weplanation on the last line of the joumalentry tahie. Requirements 1. Journalize the transaction on March 1 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue. Round to the nearest dollar. 3. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar
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