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These transaction took place for Sanders Co. 2016 May 1 Received a $15,000, 1-year, 9% note in exchange for an outstanding account receivable from T.

These transaction took place for Sanders Co.

2016
May 1 Received a $15,000, 1-year, 9% note in exchange for an outstanding account receivable from T. Foley.
Dec. 31 Accrued interest revenue on the T. Foley note.
2017
May 1 Received principal plus interest on the T. Foley note. (No interest has been accrued since December 31, 2016.)image text in transcribed
Date Account Titles and Explanation 2016 May 1 Dec. 31 2017 May 1 Debit Credit

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