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Question 11 (4 points) Zee Company accepts a $8,000 four-month 6% note receivable in settlement of an account receivable on June 1. Interest is to
Question 11 (4 points) Zee Company accepts a $8,000 four-month 6% note receivable in settlement of an account receivable on June 1. Interest is to be paid at maturity. The company's year- end is December 31. The company adjusts its accounts annually. Required: a. Record the issue of the note on June 1 b. Record the journal entry on October 1 assuming the note is dishonored and eventual collection is not expected. Format B I U GENERAL JOURNAL DATE ACCOUNT TITLES DEBIT CREDIT
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