Question
On September 1, 2016, Dougherty Corp. accepted a six-month, 5.00%, $75,000.00 interest-bearing note from Rozelle Company in payment of an account receivable. Doughertys year-end is
On September 1, 2016, Dougherty Corp. accepted a six-month, 5.00%, $75,000.00 interest-bearing note from Rozelle Company in payment of an account receivable. Doughertys year-end is December 31. Rozelle paid the note and interest on the due date.
| Prepare all necessary journal entries that Dougherty needs to make in connection with this note. |
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Financial Reporting Financial Statement Analysis And Valuation A Strategic Perspective
Authors: Clyde P. Stickney, Paul Brown, James M. Wahlen
6th Edition
0324302959, 9780324302950
