еBook 4Show Me How Entries for Notes Receivable, Including Year-End Entries EET The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: EET 20Υ3 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. Dec. 31. Recorded an adjusting entry for accrued interest on the note of November 21. 20Y4 Jan. 20. Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360-day year when calculating interest. 20Y3, Nov. 21 Dec. 31 20Y4, Jan. 20 items Check My Work Previous Next 31 O 11:01

еBook 4Show Me How Entries for Notes Receivable, Including Year-End Entries EET The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and zippers for clothing: EET 20Υ3 Nov. 21. Received from McKenna Outer Wear Co., on account, a $96,000, 60-day, 3% note dated November 21 in settlement of a past due account. Dec. 31. Recorded an adjusting entry for accrued interest on the note of November 21. 20Y4 Jan. 20. Received payment of note and interest from McKenna Outer Wear Co. Journalize the entries to record the transactions. For a compound transaction, if an amount box does not require an entry, leave it blank. Assume a 360-day year when calculating interest. 20Y3, Nov. 21 Dec. 31 20Y4, Jan. 20 items Check My Work Previous Next 31 O 11:01

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter5: Operating Activities: Purchases And Cash Payments

Section: Chapter Questions

Problem 2.1C

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