These transactions took place for Redeker Co. Instructions. Record the transactions in the general journal. The company
Question:
These transactions took place for Redeker Co.
Instructions.
Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31.
Transcribed Image Text:
2021 May 1 Dec. 31. Dec. 31 2022 May 1 Received a $9,000, 12-month, 10% note in exchange for an outstanding account receivable from Mark Chamber. Accrued interest revenue on the Chamber note. Closed the interest revenue account. Received principal plus interest on the Chamber note. (No interest has been accrued since December 31, 2021.)
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Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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