Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)

12th Edition

ISBN: 9780134491509

Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae

Publisher: PEARSON

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Textbook Question

Chapter 9, Problem E9.25E

Journalizing note receivable transactions

Learning Objective 4
Oct. 31 Cash DR $18,355

Professional Steam Cleaning performs services on account. When a customer account becomes four months old, Professional converts the account to a note receivable. During 201 8, the company completed the following transactions

Apr. 28
Sep. 1

Oct. 31

Performed service on account for Parkview Club, $18,000.
Received an $18,000. 60-day. 12% note from Parkview Club in satisfaction of its past-due account receivable.
Collected the Parkview Club note at maturity.

Record the transactions in Professional’s journal Round to the nearest dollar.

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Chapter 9, Problem E9.24E

Chapter 9, Problem E9.26E

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Chapter 9 Solutions

Horngren's Accounting: The Managerial Chapters, Student Value Edition (12th Edition)

Ch. 9 - 1. With good internal controls, the person who...Ch. 9 - Which of the following is a limitation of the...Ch. 9 - 3. The entry to record a write-off of an...Ch. 9 - Brickman Company uses the allowance method to...Ch. 9 - Brickman’s ending balance of accounts Receivable...Ch. 9 - During the year, Bernard Company had net credit...Ch. 9 - At December 31 year-end, Crain Company has an...Ch. 9 - Using the data in the preceding question, what...Ch. 9 - At year-end, Schultz Company has cash of $11,600,...Ch. 9 - Using the data in the preceding question, assume...

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