Question

During 2015, LeBron Corporation accepts the following notes receivable.
a. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $7,000.
b. On June 1, LeBron lends cash to one of the company’s vendors by accepting a six-month, 10% note for $11,000.
c. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $6,000.

Required:
Record the acceptance of each of the notes receivable.



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  • CreatedJuly 15, 2014
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