3 Prepare journal entries to record these transactions: (If no entry is required for a transaction/event,...
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3 Prepare journal entries to record these transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Mar. 21 Accepted a $7,100, six-month, 2% note dated today from Bradley Brooks in granting a time extension on his past-due account. Sept. 21 Brooks dishonoured his note when presented for payment. Dec. 31 After exhausting all legal means of collection, wrote off Brooks's account against the Allowance for Doubtful Accounts. View transaction list Journal entry worksheet < 1 Record the 6-month, 2% note to replace past-due account. 2 3 Note: Enter debits before credits. Date Mar 21 5-1080 Record entry Type here to search General Journal Clear entry Ei Debit Credit View general journal 13 > 3 Prepare journal entries to record these transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Mar. 21 Accepted a $7,100, six-month, 2% note dated today from Bradley Brooks in granting a time extension on his past-due account. Sept. 21 Brooks dishonoured his note when presented for payment. Dec. 31 After exhausting all legal means of collection, wrote off Brooks's account against the Allowance for Doubtful Accounts. View transaction list Journal entry worksheet < 1 Record the 6-month, 2% note to replace past-due account. 2 3 Note: Enter debits before credits. Date Mar 21 5-1080 Record entry Type here to search General Journal Clear entry Ei Debit Credit View general journal 13 >
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Account Debit Credit Mar 21 Note receivable 7100 Accoun... View the full answer
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
Posted Date:
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