! Required information Exercise 5-17 (Static) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.] Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity. Exercise 5-17 (Static) Part b (2) b-2. Prepare the journal entry to record collection of the note and interest at maturity. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list

! Required information Exercise 5-17 (Static) Notes receivable-interest accrual and collection LO 5-6 [The following information applies to the questions displayed below.] Agrico Incorporated accepted an 8-month, 12% (annual rate), $7,000 note from one of its customers on July 15, 2022; interest is payable with the principal at maturity. Exercise 5-17 (Static) Part b (2) b-2. Prepare the journal entry to record collection of the note and interest at maturity. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list

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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