Question: Accounting for Notes Receivable On November 30, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $56,000, 12% note receivable.

Accounting for Notes Receivable

On November 30, Tucker Products performed computer programming services for Thomas Inc. in exchange for a 5-month, $56,000, 12% note receivable. Thomas paid Tucker the full amount of interest and principal on April 30.

Required:

Prepare the necessary entries for Tucker to record the transactions described above assuming a December 31 year end. If an amount box does not require an entry, leave it blank. Round your final answer to the nearest dollar.

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