Question

The Oklahoma City Insurance Agency received the following notes during 2012:


Requirements
1. Identifying each note by number, compute the total interest on each note over the note term using a 360-day year, and determine the due date and maturity value of each note.
2. Journalize a single adjusting entry on December 31, 2012, to record accrued interest revenue on all three notes. Explanations are not required.
3. For note (1), journalize the collection of principal and interest at maturity. Explanations are notrequired.


$1.99
Sales1
Views70
Comments0
  • CreatedApril 29, 2014
  • Files Included
Post your question
5000