For each of the following transactions for Boston Co. (the seller), journalize what the entry would be

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For each of the following transactions for Boston Co. (the seller), journalize what the entry would be for the buyer (Main Co.).

Sold on account to Main Co.

For each of the following transactions for Boston Co. (the

Note paid by Main Co. on duedate

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College Accounting A Practical Approach

ISBN: 978-0133133233

12th edition

Authors: Jeffrey Slater

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Question Posted: Apr 24, 2014 10:24 AM

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For each of the following transactions for Boston Co. (the seller), journalize what the entry would be

Question:

a. Accounts Receivable, Main Co. ,500 Sales 7,500 b. Notes Receivable 7,500 Accounts Receivable, Main Co Transferred to Notes Rec. 7,500 c. Cash 7,612 Notes Receivable Interest Income 7,500 112

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A Purchases 7500 Accounts Payable Boston Co 7500 Bo...View the full answer

College Accounting A Practical Approach

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