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record journal trasaction 3-3. Glow The Colayco Company completes the following transactions during the year 2012. As lol July 14 Writes off the account of
record journal trasaction
3-3. Glow The Colayco Company completes the following transactions during the year 2012. As lol July 14 Writes off the account of Moret Company for P10,000 that arose from a sale in September 2011. 1360 31 Receives a P12,000 go-day 10% note from P. Noval Company for merchandise sold.cres: Aug. 15 Receives P20,000 cash plus P15,000 note from Dapitan for merchandise sold. The note is dated August 15 and bears interest at 12%, and matures in 120 days. Nby. 1 Completed a P20,000 credit card sale with a 4% fee. Cash is received immediately from the credit card company. Nov. 4 Nov. 5 P. Noval Company refuses to pay the note that was due to Colayco. . .. Completed a P9,000 credit card sale with a 5% fee. The amount due from the credit card company was received on November 9. 15 Received the full amount of P10,000 from Moret Company that was previously written off on July 14. Dec. 13 Received payment of principal plus interest from Dapitan for the August 15 note. REQUIRED: Prepare journal entries to record the transactions on Colayco Company's booksStep by Step Solution
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