17th Edition

ISBN: 9781323461471

Author: Horngren

Publisher: PEARSON C

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Textbook Question

Chapter 9, Problem E9.24E

Journalizing note receivable transactions

Like New Steam Cleaning performs services on account. When a customer 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 its past-due account receivable.

Oct 31 Collected the Java Club note at maturity.

Record the transactions in Like News journal.

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Chapter 9, Problem E9.23E

Chapter 9, Problem E9.25E

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Chapter 9 Solutions

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