how this would be recorded in a journal entry: accounts/and amount. Record the interest of $400 on a note receivable that was earned at year-end, although collection of the interest is not due until the following year.

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A: Solution: Issuance of note to a creditor on accounts means a note payable issued to the creditor for…

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A: Given, Amount is P25000 Amount received is P21915 Inspection fees P85.00

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A: Journal Entry: Journal entry is the act of keeping records of transactions in an accounting journal.…

Q: A business issued a 60-day note for $99,000 to a bank. The note was discounted at 7%. Journalize the…

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Q: ournalize the following entries on the books of the borrower and creditor. Label accordingly.…

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Q: On 5th October 2020 Mazoon LLC has accepted a note receivable from one of the accounts receivables.…

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A: Allowance for doubtful accounts:   It is a contra asset account of an organization that records the…

Q: Descriptors are provided below for six situations involving notes receivable being discounted at a…

A: A note receivable is a written promise.  It is a promise  made by one part to other party. A…

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Q: On August 1, Kim Company accepted a 90-day note receivable as payment for services provided to Hsu…

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Q: A business issued a 60-day, 10% note for $80,000 to a creditor on account. Journalize the entries to…

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A: Answer: b- (1&iii)

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A:

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A: Please find the whole answer in the picture.

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A: Introduction Accrued Interest expense of note payable: Interest expense accrues every day from the…

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Q: On August 2, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his…

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A: It will deduct by bank in payment of notes.

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Q: Prefix Supply Company received a 120-day, 8% note for $450,000, dated April 9 from a customer on…

A: b)

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