Journalize the following transactions of Funhouse Productions: July 8. Received a $120,000, 90-day, 8% note dated July
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July 8. Received a $120,000, 90-day, 8% note dated July 8 from Mystic Mermaid Company on account.
Oct. 6. The note is dishonored by Mystic Mermaid Company.
Nov. 5. Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Mystic Mermaid Company on October 6.
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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