Journalize the following transactions of Theres Productions: July 3 Received a $150,000, 90-day, 8% note dated July
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July 3 Received a $150,000, 90-day, 8% note dated July 3 from Hermes Company on account.
Oct. 1 The note is dishonored by Hermes Company.
31 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Hermes Company on October 1.
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July 3 Notes Receivable 150000 Accounts ReceivableHermes Co...View the full answer
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Related Book For 
Financial Accounting An Integrated Statements Approach
ISBN: 978-0324312119
2nd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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