JKL Company completes an aging schedule of its Accounts Receivable inorder to determine the year-end adjustment for
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On March 5, 2022, MNO Company accepted a $3,000, 2-month, 10%note in granting a time extension on the past-due Accounts Receivable ofVasilika Dhami. On May 5, 2022, Vasilika Dhami paid the maturity value of her$3,000 note. What is the journal entry made by MNO Company torecord the payment of the note? (All interest is paid at maturity).
Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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