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Please Ignore the numbers I put there, thank you! On August 1, 2019, Nexis Ltd. sold equipment and accepted a six-month, 3%, $19,000 note receivable.
Please Ignore the numbers I put there, thank you!
On August 1, 2019, Nexis Ltd. sold equipment and accepted a six-month, 3%, $19,000 note receivable. On December 31, 2019, which is the company's year-end, it accrued interest revenue of $238 related to this note. Record the journal entry on the maturity date (February 1, 2020). Record the journal entry. (Record debits first, then credits. Explanations are not required. Round your answers to nearest whole dollar.) Date Accounts Debit Credit Feb. 1 Cash 19285 Note Receivable 19000 Interest Receivable 238 Interest Revenue 47Step by Step Solution
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