On July 1 , 2 0 1 4 , Grommett Inc. assigns $ 2 , 5 0
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Question:
On July Grommett Inc. assigns $ of its accounts receivable to Alliance National Bank as collateral for a $ note. The bank assesses a finance charge of of the receivables assigned and interest on the note of Prepare the July journal entries for both Grommett.
Prepare the July journal entry for Sunset Inc.
Related Book For
Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
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