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Oriole Company adjusts its accounting records monthly in order to prepare monthly financial statements. On Septernber 30,2024. selected general ledger account balances are: Notes receivable

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Oriole Company adjusts its accounting records monthly in order to prepare monthly financial statements. On Septernber 30,2024. selected general ledger account balances are: Notes receivable are as follows: Interest is payable on the first day of each month for notes with terms of one year or longer. Interest is payable at maturity for notes with terms of less than one year. In October, the following transactions occurred: Oct. Received notice that the Fournier Co. note had been dishonoured. (Assume that Fournier is expected to pay in the 31 future.) 31 Collected the amount owing from K. Leroy Co, (a) Record the transactions on October 31 and the October 31 adjusting entry to accrue interest revenue. (Credit occount titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select 'No Entry' for the occount titles and enter 0 for the amounts. List all debit entries before credit entries. Round answers to 0 decimal places, es. 5, 275.) (To record dishonoured note where collection is expected.) Oct.31 (To record collection of note and interest.) Oct. 31 (To accrue interest earned.)

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