Question

Prepare entries in general journal form to record the following:
June 4 Received payment from Parker Company of interest on a 45-day, 5.5 percent note for $ 8,700, dated April 20, and renewal of the note for 60 days at 6 percent.
July 8 Received payment of interest from Nolan Company on a 60-day, 6 percent note for $ 5,800, dated May 9, and partial payment of $ 2,000 on the principal. Received a 6.5 percent, 30- day note for $ 3,800, dated July 8.



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  • CreatedOctober 21, 2014
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