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The following selected transactions for notes receivable are for Hiroole Limited May 1 Received a six-month, 5%, S 12,000 note on account from Blackstone Limited.
The following selected transactions for notes receivable are for Hiroole Limited May 1 Received a six-month, 5%, S 12,000 note on account from Blackstone Limited. Interest is due at maturity. June 30 Accrued interest on the Blackstone note on this date, which is Hiroole's year end July 31 Lent $9,600 cash to an employee, Noreen Wong, issuing a three-month, 7% note. Interest is due at the end of each month. Aug. 31 Received the interest due from Ms. Wong Sept. 30 Received the interest due from Ms. Wong Oct. 31 Received payment in full for the employee note from Ms. Wong Nov. 1 Wrote off the Blackstone note because Blackstone defaulted. Future payment is not expected Record the above transactions for Hiroole Limited. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Round answers to the nearest whole dollar, e.g. 5,275.) Date Account Titles and Explanation Debit Credit
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