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Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. 2021 Oct 1 Received a
Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31.
2021
Oct 1 Received a $8,000, 6- month, 5% note in exchange for an outstanding account receivable from R.Stoney
Dec 31 Accrued interest revenue on the R.Stoney note
2022
March 31 Received principal plus interest on the R. Stoney Note
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