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Question 1 Multi Media Ltd. completed the following transactions: September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days. November 1,

Question 1

Multi Media Ltd. completed the following transactions:

September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days.

November 1, 2016: Accepted a one-year, 12% note from Inga Corporation to settle its account.

December 31, 2016: Accrued interest on the note from Inga Corporation (round to the nearest dollar).

November 1, 2017: Received amount due from Inga Corporation.

Required:

Record entries for the above transactions.

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