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Problem 8-8A (Part Level Submission) Splish Brothers Inc. closes its books on its July 31 year-end. The company does not make entries to accrue for
Problem 8-8A (Part Level Submission) Splish Brothers Inc. closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $22,400. Notes Receivable include the following. Face Value Maturity Date Interest Rate 8% 10% 6% Maker Term $4,400 90 days July 20 7,200 60 days July 24 Date April 21 Coote Inc May 25Brady Co. June 30 BMG Corp. 10,800 6 months December 31 During July, the following transactions were completed. July 5 14 20 24 Made sales of $4,280 on Splish Brothers Inc. credit cards. Made sales of $800 on Visa credit cards. The credit card service charge is 3%. Received payment in full from Coote Inc. on the amount due. Received payment in full from Brady Co. on the amount due
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