On August 2. Jun Co. receives a $7.400, 90-day, 13.5% note from customer Ryan Albany as...

 

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On August 2. Jun Co. receives a $7.400, 90-day, 13.5% note from customer Ryan Albany as payment on his $7,400 account receivable. Prepare Jun's journal entry assuming the note is paid by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Oct 31 Cash Interest revenue 6,300 On August 2. Jun Co. receives a $7.400, 90-day, 13.5% note from customer Ryan Albany as payment on his $7,400 account receivable. Prepare Jun's journal entry assuming the note is paid by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.) View transaction list View journal entry worksheet No Date General Journal Debit Credit Oct 31 Cash Interest revenue 6,300

Answer rating: 100% (QA)

Solution Date General Journal Debit ... View the full answer