2024 May 1 Dec. 31 2025 Received a $2,800, 12-month, 6% note in exchange for an outstanding account receivable from R. Stoney. Accrued interest revenue on the R. Stoney note. May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2024.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date May 1, 2024 Account Titles and Explanation Debit Credit
2024 May 1 Dec. 31 2025 Received a $2,800, 12-month, 6% note in exchange for an outstanding account receivable from R. Stoney. Accrued interest revenue on the R. Stoney note. May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2024.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date May 1, 2024 Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:2024
May
1 Received a $2,800, 12-month, 6% note in exchange for an outstanding account receivable from R. Stoney.
31 Accrued interest revenue on the R. Stoney note.
Dec.
2025
May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2024.)
Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (List all
debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record
journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.)
Date
May 1, 2024
く
Account Titles and Explanation
Debit
Credit
SU
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