Gaber Co. lends Ameer Co. $40,000 on June 1, accepting a four-month, 6% interest note. If Gaber
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Question:
Gaber Co. lends Ameer Co. $40,000 on June 1, accepting a four-month, 6% interest note.
If Gaber Wolder presents the note to Ameer Co. on Oct. 1, the maturity date, and receive the amount.
Prepare the journal entries
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Question 4:
On June 1, Naser Co. lent Yazan Co. $60,000, and accept a two-month, 5% interest note.
On Aug. 1, the maturity date, Naser Wolder presented the note to Yazan Co. but Yazan refused to pay the amount.
Prepare the journal entries
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Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: