Entity A received a 10%, P200,000, one-year, note receivable on July 1, 20x1. Entity A uses a calendar year period. The principal and interest of the note are due on July 1, 20x2. What is the adjusting entry on December 31, 20x1?
Entity A received a 10%, P200,000, one-year, note receivable on July 1, 20x1. Entity A uses a calendar year period. The principal and interest of the note are due on July 1, 20x2. What is the adjusting entry on December 31, 20x1?
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...
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Entity A received a 10%, P200,000, one-year, note receivable on July 1, 20x1. Entity A uses a calendar year period. The principal and interest of the note are due on July 1, 20x2. What is the
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