Notes Receivable Crowne Cleaning provides cleaning services for Amber Inc., a business with four buildings. Crowne assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buildings are $87,600, $82,200, $102,000, and $62,400. Amber secured this amount by signing a note bearing 10% interest on June 1. Required: Question Content Area 1. Prepare the journal entry to record the sale on June 1. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - Question Content Area 2. Determine how much interest Crowne will receive if the note is repaid on December 1. $fill in the blank 59d6dd028fbe01b_1 Question Content Area 3. Prepare Crowne’s journal entry to record the cash received to pay off the note and interest on December 1. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - - Select - - Select -
Notes Receivable Crowne Cleaning provides cleaning services for Amber Inc., a business with four buildings. Crowne assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buildings are $87,600, $82,200, $102,000, and $62,400. Amber secured this amount by signing a note bearing 10% interest on June 1. Required: Question Content Area 1. Prepare the journal entry to record the sale on June 1. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - Question Content Area 2. Determine how much interest Crowne will receive if the note is repaid on December 1. $fill in the blank 59d6dd028fbe01b_1 Question Content Area 3. Prepare Crowne’s journal entry to record the cash received to pay off the note and interest on December 1. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - - Select - - Select -
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Notes Receivable
Crowne Cleaning provides cleaning services for Amber Inc., a business with four buildings. Crowne assigned different cleaning charges for each building based on the amount of square feet to be cleaned. The charges for the four buildings are $87,600, $82,200, $102,000, and $62,400. Amber secured this amount by signing a note bearing 10% interest on June 1.
Required:
Question Content Area
1. Prepare the
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Question Content Area
2. Determine how much interest Crowne will receive if the note is repaid on December 1.
$fill in the blank 59d6dd028fbe01b_1
Question Content Area
3. Prepare Crowne’s journal entry to record the cash received to pay off the note and interest on December 1. If an amount box does not require an entry, leave it blank.
| blank |
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- Select - | - Select - |
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- Select - | - Select - | |
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- Select - | - Select - |
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