These transactions took place for Ralston Co. 2009 May 1 Received a $6,000, 1-year, 9% note in

Question:

These transactions took place for Ralston Co.

2009

May 1 Received a $6,000, 1-year, 9% note in exchange for an outstanding account receivable from S. Dolan.

Dec 31Accrued interest revenue on the S. Dolan note.

2010

May 1 Received principal plus interest on the S. Dolan note. (No interest has been accrued since December 31, 2009.)

Instructions

Record the transactions in the general journal.

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

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Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Question Posted: Apr 21, 2012 03:22 AM

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These transactions took place for Ralston Co. 2009 May 1 Received a $6,000, 1-year, 9% note in

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