5) c) On April 1st, TechHub, agreed to accept $2,000 in cash and a $3,000, 90-day, 14% note from Brittany Blue to settle her $5,000 past-due account. TechHub made the following entry to record receipt of this cash and note: [3 T] d) Brittany Blue pays this note on May 1st in full. Write the journal entry to record this transaction. [3 T]

5) c) On April 1st, TechHub, agreed to accept $2,000 in cash and a $3,000, 90-day, 14% note from Brittany Blue to settle her $5,000 past-due account. TechHub made the following entry to record receipt of this cash and note: [3 T] d) Brittany Blue pays this note on May 1st in full. Write the journal entry to record this transaction. [3 T]

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 26Q: A customer was unable to pay the accounts receivable on time in the amount of $34,000. The customer...

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