Question
These transactions took place for Sunland Company. 2021 May 1 Received a $6,300, 12-months, 8% note in exchange for an outstanding account receivable from
These transactions took place for Sunland Company. 2021 May 1 Received a $6,300, 12-months, 8% note in exchange for an outstanding account receivable from R. Stoney. Accrued interest revenue on the R. Stoney note. Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2021) Dec. 31 2022 May 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.) Date Account Titles and Explanation Debit Credit
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