Question

Record the following transactions for Redeker Co. in the general journal.
2014
May 1 Received a $9,000, 12-month, 10% note in exchange for Mark Chamber’s outstanding accounts receivable.
Dec. 31 Accrued interest on the Chamber note.
Dec. 31 Closed the interest revenue account.
2015
May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2015.)



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  • CreatedJanuary 30, 2014
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