a. 2014/July 1 Loaned $ 70,000 to an employee of the company and received back a one-year,
Question:
b. Dec. 31 Accrued interest on the note.
c. 2015/July 1 Received interest on the note. (No interest has been recorded since December 31.)
d. July 1 Received principal on the note.
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a July 1 2014 Notes Receivable 70000 Cash 70000 b Dec 31 2014 ...View the full answer
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Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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