Question
On November 16, 2015, Williams Industrial gave Phillip Co. a 9o-day, 8%. $80.000 note payable to extend a past due account payable. Prepare the journal
On November 16, 2015, Williams Industrial gave Phillip Co. a 9o-day, 8%. $80.000 note payable to extend a past due account payable. Prepare the journal entry for Williams Industrial to record payment of the note on Feb 14. 2016. Williams Industrial recorded a December 3ISt year end adjusting entry. (Please show all the caleulacions in vour solution)
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Financial Accounting
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
6th Edition
1618533118, 978-1618533111
