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On October 31, 2019, Marydale accepts a 6-month, 9% note from Customer A in lieu of a $4,200 cash payment for services provided that day.
On October 31, 2019, Marydale accepts a 6-month, 9% note from Customer A in lieu of a $4,200 cash payment for services provided that day. b. On February 28, 2020, Marydale accepts a 6-month, $1,800, 6% note from Customer B in lieu of a $1,800 cash payment for services provided on that day. c. On April 30, 2020, Customer A pays the entire note plus interest in cash. d. On August 31, Create the necessary Journal and adjusting entries for a through d.
| On October 31, 2019, Marydale accepts a 6-month, 9% note from Customer A in lieu of a $4,200 cash payment for services provided that day. | |
| b. | On February 28, 2020, Marydale accepts a 6-month, $1,800, 6% note from Customer B in lieu of a $1,800 cash payment for services provided on that day. |
| c. | On April 30, 2020, Customer A pays the entire note plus interest in cash. |
| d. | On August 31, Create the necessary Journal and adjusting entries for a through d. |
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