Ginter Co. holds Kolar Inc.s $10,000, 120-day, 9% note. The entry made by Ginter Co. when the
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Ginter Co. holds Kolar Inc.’s $10,000, 120-day, 9% note. The entry made by Ginter Co. when the note is collected, assuming no interest has been previously accrued, is:
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(a) Cash Notes Receivable (b) Cash Notes Receivable (c) Accounts Receivable Notes Receivable Interest Revenue (d) Cash Notes Receivable Interest Revenue 10,300 | | 10,000 10,300 10,300 10,300 10,000 10,000 300 10,000 300
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d Cash is debited for its maturity value 1000...View the full answer
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Related Book For
Financial Accounting
ISBN: 9781119298229,9781119305842
10th Edition
Authors: Jerry J. Weygandt , Donald E. Kieso , Paul D. Kimmel
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