On May 15, 201X, Radford Co. gave Brown Co. a 180-day, $8,600, 8% note. On July 14,

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On May 15, 201X, Radford Co. gave Brown Co. a 180-day, $8,600, 8% note. On July 14, Brown Co. discounted the note at 10%.

a. Journalize the entry for Brown to record the proceeds.

b. Record the entry for Brown if Radford fails to pay at maturity.

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College Accounting A Practical Approach Chapters 1-25

ISBN: 9780133791006

13th Edition

Authors: Jeffrey Slater

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Question Posted: Apr 14, 2017 12:37 PM

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On May 15, 201X, Radford Co. gave Brown Co. a 180-day, $8,600, 8% note. On July 14,

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a Cash 864587 Interest Income 458...View the full answer

College Accounting A Practical Approach Chapters 1-25

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