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Prepare journal entries to record transactions for Vitalo Company. Nov.1 Accepted a $6,000, 180-day, 8% note from Kelly White in granting a time extension on
Prepare journal entries to record transactions for Vitalo Company.
Nov.1 Accepted a $6,000, 180-day, 8% note from Kelly White in granting a time extension on her past-due account receivable.
Dec.31 Adjusted the year-end accounts for the accrued interest earned on the White note.
Apr.30 White honored her note when presented for payment.
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