5) c) On April 1st, TechHub, agreed to accept $2,000 in cash and a $3,000, 90-day, 14% note from Brittany Blue to settle her $5,000 past-due account. TechHub made the following entry to record receipt of this cash and note: [3 T] d) Brittany Blue pays this note on May 1st in full. Write the journal entry to record this transaction. [3 T]

5) c) On April 1st, TechHub, agreed to accept $2,000 in cash and a $3,000, 90-day, 14% note from Brittany Blue to settle her $5,000 past-due account. TechHub made the following entry to record receipt of this cash and note: [3 T] d) Brittany Blue pays this note on May 1st in full. Write the journal entry to record this transaction. [3 T]

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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what will be the journel entry to record the issue of note of $30,000 to a creditor wo has agreed to pay the amount on the specified terms as per the note agreement
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