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Pax Company had the following transactions during the current year: 2017 May 7 Received exist21,000, 75-day, 10% note from T. Camire on account. July 21
Pax Company had the following transactions during the current year: 2017 May 7 Received exist21,000, 75-day, 10% note from T. Camire on account. July 21 T. Camire paid his note due today. Dec 19 Received a exist30,000, 60-day, 9% note from M. Cottle on account. Dec 31 Made the necessary adjusting entry.5. Feb 17 Collected the M. Cottle note receivable plus interest. Use the letters to the left of the following accounts to record all of the above transactions. List the debit letter first and indicate the entry amounts for the July 21, December 31 and February 17 entries. A. Accounts Receivable B. Cash C. Interest Receivable D. Interest Revenue E. Notes Receivable
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