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These transactions took place for Bonita Industries 2016 May 1 Stoney Received a $6,800, 12-month, 6% note in exchange for an outstanding account receivable from
These transactions took place for Bonita Industries 2016 May 1 Stoney Received a $6,800, 12-month, 6% note in exchange for an outstanding account receivable from R. Accrued interest revenue on the R. Stoney note. Received principal plus 31 2017 interest on the R. Stoney note. (No interest has been accrued since December May 1 31, 2016.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation
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