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There is a $1000 credit memo on the bank statement. This is for a note receivable collected by the bank on behalf of the company.
There is a $1000 credit memo on the bank statement. This is for a note receivable collected by the bank on behalf of the company. The note is for customer A. Tolbert and is $900 principle plus $100 of interest. On the same day, the bank withdrew $40 from the company's account as a fee for collecting the note receivable. How is this journaled?
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To journalize the transactions described 1 Recording the Collection of the Note Receivable Debit Cas...
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Corporate Financial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
12th edition
1305041399, 1285078586, 978-1-133-9524, 9781133952428, 978-1305041394, 9781285078588, 1-133-95241-0, 978-1133952411
