Elizabeth Proctor sells equipment for $80 000 to Matthew Gamble on 1 July 2013 in exchange for note bearing 12 per cent interest. Prepare a journal entry to record the accrued interest on 30 June 2014, and the repayment on 30 September 2014.
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Home » Business » Elizabeth Proctor sells equipment for $80 000 to Matthew Gamble on 1 July 2013 in exchange for note bearing 12 per cent interest. Prepare a journal entry to record the accrued interest on 30 June 2014, and the repayment on 30 September 2014.