2016 dec. 13 accepted a $9,500, 45-day, 8% note dated december 13 in granting miranda lee a time extension on her past-due account receivable. 31 prepared an adjusting entry to record the accrued interest on the lee note. 2017 jan. 27 received lee's payment for principal and interest on the note dated december 13. mar. 3 accepted a $5,000, 10%, 90-day note dated march 3 in granting a time extension on the past-due account receivable of tomas company. 17 accepted a $2,000, 30-day, 9% note dated march 17 in granting h. cheng a time extension on his past-due account receivable. apr. 16 h. cheng dishonored his note when presented for payment. may 1 wrote off the h. cheng account against the allowance for doubtful accounts. june 1 received the tomas payment for principal and interest on the note dated march 3.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “2016 dec. 13 accepted a $9,500, 45-day, 8% note dated december 13 in granting miranda lee a time extension on her past-due account ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A firm that has the ability to control to some degree the price of the product it sells
Answers (1)
A common assumption is that creative work proceeds in periods of calm and peace. given the combination of political instability and cultural productivity in renaissance italy, do you think this assumption is valid?
Answers (2)
A marketing manager wants to know why her sales are down
Answers (1)
Free cash flow valuation You are evaluating the potential purchase of a small business with no debt or preferred stock that is currently generating $41 comma 300 of free cash flow (FCF 0 = $41,300 ).
Answers (1)
If you were in the dry-cleaning business, whom would you benchmark for their technological innovations? List companies in related fields that would be inside and outside your industry.
Answers (1)
New Questions in Business
Petra's basis was $50,000 in the PAM Partnership interest just before she received a proportionate nonliquidating distribution consisting of land held for investment (basis of $40,000, fair market value of $60,000) and inventory (basis of $40,000,
Answers (1)
Nolte Co. has 4,500,000 shares of common stock outstanding on December 31, 2014. An additional 200,000 shares are issued on April 1, 2015, and 480,000 more on September 1. On October 1, Nolte issued $6,000,000 of 9% convertible bonds.
Answers (1)
Your friends own a lawn care business. They own their own equipment and trailers to transport it. Eventually they buy out another local lawn care company and double their customers. This is an example of 1. ending an oligopoly2.
Answers (1)
Suppose you currently earn $30,000 a year. you are considering a job that will increase your lifetime earnings by $300,000 but that requires an mba. the job will mean also attending business school for two years at an annual cost of $25,000.
Answers (1)
Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $154,000. The machine's useful life is estimated to be 5 years, or 370,000 units of product, with a $6,000 salvage value.
Answers (1)