Prepare entries in general journal form to record the following: Aug. 6 Woodard Company failed to pay
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Aug. 6 Woodard Company failed to pay its 30-day, 5 percent note for $ 480, dated July 7. The note is thus dishonored at maturity.
Sept. 5 Woodard Company pays the balance of its account, plus an additional 30 days’ interest at 5.5 percent on the amount owed.
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GENERAL JOURNAL PAGE POST DATE DESCRIPTION REF DEBIT CREDIT 20 Aug 6 Accounts Receiv...View the full answer
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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