Question
The following selected transactions occurred during 2016 for Mitchell Movers. The company ends it accounting year on December 31. Apr. 1 Performed services on account
The following selected transactions occurred during 2016 for Mitchell Movers. The company ends it accounting year on December 31.
| Apr. 1 | Performed services on account for Ellison Rentals, $12,000. |
| Aug. 1 | Received a $12,000, 3 month, 9% note from Ellison in satisfaction of its past-due account receivable. |
| Nov. 1 | Collected the Ellison note at maturity |
Prepare the journal entries to record these transactions.
| Apr 1 | | | |
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| Aug 1 | | | |
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| Nov 1 | | | |
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
