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Required information Exercise 5-17 (Static) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.) Agrico Incorporated accepted
Required information Exercise 5-17 (Static) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.) Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity. Exercise 5-17 (Static) Part b (1) b-1. Prepare the horizontal model to record collection of the note and interest at maturity. Note: Enter decreases to account balances with a minus sign. Assets Balance Sheet Liabilities = + + Stockholders' Equity on Saved Help Save & Exit Income Statement uity Net Income Revenues Expenses
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