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On March 1, Kone Corporation accepted a 60 -day, 3%,$21,900 note receivable from Summers in exchange for his account recervable: Read the coquicerments Requirement 1.
On March 1, Kone Corporation accepted a 60 -day, 3%,$21,900 note receivable from Summers in exchange for his account recervable: Read the coquicerments Requirement 1. Journalize the Date Mar 1 intry table. For notos stated if Requirements 1. Journalize the transaction on March 1 2. Journaize the adjusting entry needed on March 31 to accrue interest revenum Reund to the nearest dollat 3. Joumalze the collection of the prinepal and interest at maturity Specity the date. Round to the nearest dollar purmal entry tabie ) obits first, then credits Solnct the explanation Requirement 2. Journalize the adjusting entry needed on March 31 to accrue interest revenue Round to the nearest doliar (Record debits first, then cre entry tabie For notes stated in days, use a 365 -day year.) Requirement 3. Joumalize the collection of the principal and interest at matunty Specify the date Round to the nearest dollar (Record debits first then ce journal entry table. For notes stated in days, use a 365 -day year)
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