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please provide full step by step answers with clear explanation and highlights and bold the answer Prepare journal entries to record these transactions: (Round your

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please provide full step by step answers with clear explanation and highlights and bold the answer

Prepare journal entries to record these transactions: (Round your answers to 2 decimal places.) Oct. 31 Accepted a $20,500, six-month, 6.0% note dated today from Leann Grimes in granting a time extension on her past-due account. Adjusted the books for the interest due on the Grimes note. Grimes honoured her note when presented for payment. Dec. 31 Apr. 30 View transaction list Journal entry worksheet Record entry for note accepted for $20,500, for 6 months at 6.00% dated today from Leann Grimes in granting a time extension on her past-due account. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31 Record entry Clear entry View general journal Prepare journal entries to record these transactions: (Round your answers to 2 decimal places.) Oct 31 Dec. 31 App. 30 Accepted a $20,500, six-month, 6.0% note dated today from Leann Grimes in granting a time extension on her past-due account. Adjusted the books for the interest due on the Grimes note. Grimes honoured her note when presented for payment. View transaction list Journal entry worksheet 1 2 3 Record adjusting entry for the interest due on the Grimes note. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Prepare journal entries to record these transactions: (Round your answers to 2 decimal places.) Oct 31 Accepted a $20,500, six-month, 6.0% note dated today from Leann Grimes in granting a time extension on her past-due account. Adjusted the books for the interest due on the Grimes note. Grimes honoured her note when presented for payment. Dec. 31 Apr. 30 View transaction list Journal entry worksheet

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