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Yarnell Electronics sells computer systems to small businesses. Yarnell engaged in the following activities involving notes receivable: a. On September 1, Yarnell sold a $10,000
Yarnell Electronics sells computer systems to small businesses. Yarnell engaged in the following activities involving notes receivable: a. On September 1, Yarnell sold a $10,000 system to Ross Company. Ross gave Yarnell a 6-month, 7% note as payment. b. On December 1, Yarnell sold a $6,000 system to Searfoss Inc. Searfoss gave Yarnell a 9-month, 9\% note as payment. c. On March 1, Ross paid the amount due on its note. d. On September 1, Searfoss paid the amount due on its note. Required: decimal places. Note from Searfoss Inc
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