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please help On December 31,2023 , Concord Company had the following balances reported on its balance sheet: The following information is available for the notes
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On December 31,2023 , Concord Company had the following balances reported on its balance sheet: The following information is available for the notes receivable reported on December 31,2023. All notes require that the interest be paid on the maturity date of the note. All amounts owing on the notes were paid on time. Concord prepares annual adjusting entries on December 31, the company's year end. Additional transactions of 2024 : Mar1 Received a $12,000,12-month, 5.00% note from T. Lalonde in settlement of an accounts receivable. Interest is due at maturity. Oct. 30 Received a $3,900, three-month, 4.60% note from J. Han in settlement of an accounts receivable. Interest is due at maturity. Dec1 Provided a $10,000 loan to Morgan Industries in exchange for a two-year, 6.00% note with interest due at maturity. Interest on the note is payable each year on November 30. (a) Prepare all required journal entries related to the notes receivables during 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem. Round answers to 2Step by Step Solution
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