The maker of a $20,000, 9%, 120-day note receivable failed to pay the note on the due

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The maker of a $20,000, 9%, 120-day note receivable failed to pay the note on the due date of July 30. What accounts should be debited and credited by the payee to record the dishonored note receivable?

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Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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Question Posted: Nov 06, 2012 07:23 AM

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The maker of a $20,000, 9%, 120-day note receivable failed to pay the note on the due

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