The following selected transactions were completed by Cassidy Co., a supplier of elastic bands for clothing: 2005

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The following selected transactions were completed by Cassidy Co., a supplier of elastic bands for clothing:

2005

Dec. 13. Received from Visage Co., on account, a $25,000, 120-day, 6% note dated December 13.

Dec. 31. Recorded an adjusting entry for accrued interest on the note of December 13.

31. Closed the interest revenue account. The only entry in this account originated from the December 31 adjustment.

2006

Apr. 12. Received payment of note and interest from Visage Co.

Journalize the transactions.

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Accounting

ISBN: 978-0324188004

21st Edition

Authors: Carl s. warren, James m. reeve, Philip e. fess

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Question Posted: Nov 06, 2012 07:31 AM

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The following selected transactions were completed by Cassidy Co., a supplier of elastic bands for clothing: 2005

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2005 Dec 13 Notes Receivable 25000 Accounts ReceivableVisage Co ...View the full answer

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