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On March 9, Hill gave Cullumber Company a 60-day, 9% promissory note for $1,800. Hill dishonors the note on May 9. Record the entry that
On March 9, Hill gave Cullumber Company a 60-day, 9% promissory note for $1,800. Hill dishonors the note on May 9. Record the entry that Cullumber would make when the note is dishonored, assuming (1) that no interest has been accrued, and (2) that eventual collection is expected. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Use 360 days for calculation. List all debit entries before credit entries. Round answers to 0 decimal places, eg. 1,252.) Date Account Titles and Explanation Debit Credit May 9 Cash Notes Receivable Interest Revenue e Textbook and Media Save for Later Attempts: 0 of 3 used Submit
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