Record the following transactions for Redeker Co. in the general journal. 2017 May 1 Received a $9,000,
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Record the following transactions for Redeker Co. in the general journal.
2017
May 1 Received a $9,000, 12-month, 10% note in exchange for Mark Chamber’s outstanding accounts receivable.
Dec. 31 Accrued interest on the Chamber note.
Dec. 31 Closed the interest revenue account.
2018
May 1 Received principal plus interest on the Chamber note. (No interest has been accrued in 2018.)
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Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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