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Prepare the entries for the following transactions of Delfi Company June 1, 2019 - Accepted a $20,000, 9%, 120-day note in granting a time extension
Prepare the entries for the following transactions of Delfi Company June 1, 2019 - Accepted a $20,000, 9%, 120-day note in granting a time extension on a past due accounts receivable of a customer, JJ. Company Sept. 29, 2019 - Received payment from J.J. Company for principle plus interest on the June 1" note. Nov. 1, 2019 - Delfi lent Craig Incorporated $40,000 on a 90 day, 6% note. Dec 31, 2019 - Prepare the year-end adjusting entry related to the Nov. 1 Note. Jan. 30 2019. Received payment from Craig Incorporated for principal plus interest on the November 1
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