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Question 4: Prepare journal entries to record these transactions (round the answer to two decimal places): Oct. 31 Accepted a $20,000, six-month, 5% note dated
Question 4: Prepare journal entries to record these transactions (round the answer to two decimal places): Oct. 31 Accepted a $20,000, six-month, 5% note dated today from Client X in granting a time extension on her past- due account receivable. Dec. 31 Adjusted the books for the interest due on Client Xs note. Apr. 30 Client X honored the note and paid it in full
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