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Question 2 Marin Family Importers sold goods to Tung Decorators for $43,200 on November 1, 2017, accepting Tung's $43,200, 6-month, 6% note. Prepare Marin's November
Question 2 Marin Family Importers sold goods to Tung Decorators for $43,200 on November 1, 2017, accepting Tung's $43,200, 6-month, 6% note. Prepare Marin's November 1 entry, December 31 annual adjusting entry, and May 1 entry for the collection of the note and interest. (If no entry is required, selec titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 11/1/17 Notes Receivable 43000 Sales Revenue 43000 12/31/17 Interest Receivable Interest Revenue 5/1/18 Cash Notes Receivable Interest Receivable Interest Revenue
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