20Y7 Dec. 7. Received from Unitarian Clothing and Bags Co., on account, a $60,000, 60-day, 7% note dated December 7. Dec. 31. Recorded an adjusting entry for acorued interest on the note of December 7. Dec. 31. Recorded the dosing entry for interest revenue. 20Y8 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave t biank. Assume February has 28 days in 2018 tf required, round the interest to the nearest cent. 20Y7, Dec. 7 Dec. 31 Dec. 31 20Y8, Feb. 5
20Y7 Dec. 7. Received from Unitarian Clothing and Bags Co., on account, a $60,000, 60-day, 7% note dated December 7. Dec. 31. Recorded an adjusting entry for acorued interest on the note of December 7. Dec. 31. Recorded the dosing entry for interest revenue. 20Y8 Feb. 5. Received payment of note and interest from Unitarian Clothing & Bags Co. Journalize the entries to record the transactions. Assume 360 days in a year. If an amount box does not require an entry, leave t biank. Assume February has 28 days in 2018 tf required, round the interest to the nearest cent. 20Y7, Dec. 7 Dec. 31 Dec. 31 20Y8, Feb. 5
Chapter1: Financial Statements And Business Decisions
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Problem 1Q
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