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PA 8 - 3 ( Algo ) Recording Notes Receivable Transactions [ LO 8 - 3 ] C&S Marketing ( CSM ) recently hired a
PAAlgo Recording Notes Receivable Transactions LO C&S Marketing CSM recently hired a new marketing director, Jeff Otos, for its downtown Minneapolis office. As part of the arrangement, CSM agreed on February to advance Jeff $ on a oneyear, percent note, with interest to be paid at maturity on February CSM prepares financial statements on June and December Required: Prepare the journal entries that CSM will make: If no entry is required for a transactionevent select No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your final answers to whole dollar amount. When the note is established To record the interest accruals at each quarterend and interest payments at each payment date to record the principal payment at the maturity date
PAAlgo Recording Notes Receivable Transactions LO
C&S Marketing CSM recently hired a new marketing director, Jeff Otos, for its downtown Minneapolis office. As part of the
arrangement, CSM agreed on February to advance Jeff $ on a oneyear, percent note, with interest to be paid at
maturity on February CSM prepares financial statements on June and December
Required:
Prepare the journal entries that CSM will make: If no entry is required for a transactionevent select No Journal Entry Required" in
the first account field. Do not round intermediate calculations. Round your final answers to whole dollar amount.
When the note is established
To record the interest accruals at each quarterend and interest payments at each payment date
to record the principal payment at the maturity date
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