On January 10, 2024, Kato Kreations sold merchandise on account to Lechner & Associates for $15,600, n/30.
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On January 10, 2024, Kato Kreations sold merchandise on account to Lechner & Associates for $15,600, n/30. On February 9, Lechner gave Kato a 10% promissory note in settlement of this account. Prepare the journal entries to record the sale and the settlement of the accounts receivable. Ignore any inventory and cost of goods sold for the purposes of this question.
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Related Book For
Accounting Principles Volume 1
ISBN: 9781119786818
9th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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