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On May 1 , 2 0 2 2 , Tabor Company received an $ 4 , 2 0 0 note from a customer in settlement
On May Tabor Company received an $ note from a customer in settlement of an $ account receivable from that customer. The note bore interest at the rate of per annum, and the note plus interest was payable April
Required:
Use the horizontal model to show the effects for addition and for subtraction of each of these transactions and adjustments:
a Receipt of the note on May
b The accrual of interest at December
c The collection of the note and interest on April
tableTransaction,Type of financial statement,Accounts,AmountaNote receivable,Balance sheet,Assets,
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