Horngren's Financial & Managerial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)
5th Edition
ISBN: 9780134078908
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 8, Problem 8.24E
Journalizing note receivable transactions
Like New Steam Cleaning performs services on account. When a customer account becomes four months old, Like New converts the account to a note receivable. During 2016, the company completed the following transactions:
| Apr. 28 | Performed service on account for Java Club, $24,000. |
| Sep. 1 | Received a $24,000, 60-day, 6% note from Java Club in satisfaction of its past-due |
| Oct. 31 | Collected the Java Club note at maturity. |
Record the transactions in Like New’s journal.
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Chapter 8 Solutions
Horngren's Financial & Managerial Accounting, Student Value Edition Plus MyLab Accounting with Pearson eText -- Access Card Package (5th Edition)
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