Metlock Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022 Nov. 1 Loaned $19,200 cash to Soozie Takham on a 1 - year, 10% note. Dec. 11 Sold goods to Joe TraterInc., receiving a $8,550, 90-day8% note. Dec. 16 Received a $ 5,760, 6-month 9% note in exchange for Boba Fett's outstanding accounts receivable Dec. 31 Accrued interest revenue on all notes receivable.

Metlock Supply Co. has the following transactions related to notes receivable during the last 2 months of 2022 Nov. 1 Loaned $19,200 cash to Soozie Takham on a 1 - year, 10% note. Dec. 11 Sold goods to Joe TraterInc., receiving a $8,550, 90-day8% note. Dec. 16 Received a $ 5,760, 6-month 9% note in exchange for Boba Fett's outstanding accounts receivable Dec. 31 Accrued interest revenue on all notes receivable.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 14RE: On June 1, Phillips Corporation sold, with recourse, a note receivable from a customer to a bank....

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