The following is a list of outstanding notes receivable as of December 31, 20--: REQUIRED 1. Compute
Question:
The following is a list of outstanding notes receivable as of December 31, 20--:
REQUIRED
1. Compute the accrued interest at the end of the year.
2. Prepare the adjusting entry in the generaljournal.
Transcribed Image Text:
No. of Days Maker Date of Note 12/17/-- Principal Interest Term P. Harrison T. Rieber K. Burke A. Pai 60 days 14 28 $1,200 4,000 2,200 4,500 11.0% 90 90 120 12/3/- 12.0 12/1/-- 11/28/-- 9.0 8.5 30
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1 P Harrison 1200 x 011 14360 513 T Rieber 4000 x 012 28360 3733 K Bur...View the full answer
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