On January 10, 2012, Honig Co. sold merchandise on account to Peregrine Co. for $13,600, n/30. On
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On January 10, 2012, Honig Co. sold merchandise on account to Peregrine Co. for $13,600, n/30. On February 9, Peregrine Co. gave Honig Co. a 10% promissory note in settlement of this account. Prepare the journal entry to record the sale and the settlement of the account receivable.
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The journal entry to record the sale on January 10 2012 would be Debit Accounts Receivab...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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