On May 15, 201X, Rob Co. gave Green Co. a 180-day, $6,000, 8% note. On July 14,

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On May 15, 201X, Rob Co. gave Green Co. a 180-day, $6,000, 8% note. On July 14, Green Co. discounted the note at 10%.
a. Journalize the entry for Green to record the proceeds.
b. Record the entry for Green if Rob fails to pay at maturity.

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College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

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Question Posted: Apr 24, 2014 10:24 AM

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On May 15, 201X, Rob Co. gave Green Co. a 180-day, $6,000, 8% note. On July 14,

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College Accounting A Practical Approach

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