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Please help as quickly as possible. Time is short If you know that Odeon prepare its adjusting entries at 31/12 and had the following transaction:
Please help as quickly as possible. Time is short
If you know that Odeon prepare its adjusting entries at 31/12 and had the following transaction:
1/12: Received a $8,000, 12-month, 15% note in exchange for Jon outstanding accounts receivable.
10/12 Sold a 10000, Account Receivable to financing company called first finance. Odeon paid 5% in exchange of the service.
You are required to Journalize all transactions for December, and the collection of Jon note at its maturity if the note was not honored and expect the collection in the future.
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