debit to Notes Receivable for $ 75,000 and no entry for interest. debit to Notes Receivable for $ 76,250. debit to Notes Receivable for $ 78,720. credit to Interest Revenue for $ 1,250. =================================================== ACC 557 Week 6 Chapter 9( E9-9, E9-11, E9-12, P9-3A) FOR MORE CLASSES VISIT www. acc557tutor. com
$ 48,000 increase. 15- Multiple Choice Question 142
A 5 %, 120-day note receivable is received from a customer to settle an existing account receivable of $ 75,000. Assuming a 360 day year, the accounting entry for acquisition of the note will include a
debit to Notes Receivable for $ 75,000 and no entry for interest. debit to Notes Receivable for $ 76,250. debit to Notes Receivable for $ 78,720. credit to Interest Revenue for $ 1,250. =================================================== ACC 557 Week 6 Chapter 9( E9-9, E9-11, E9-12, P9-3A) FOR MORE CLASSES VISIT www. acc557tutor. com
ACC 557 Week 6 Chapter 9( E9-9, E9-11, E9-12, P9-3A)
E9-9: Presented below are selected transactions at Tomas Company for 2014.
Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Tomas Company uses straight-line depreciation.............