Assume that part of accounts and other receivables on Thompson Toys' February 2 , 2 0 1
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Assume that part of accounts and other receivables on Thompson Toys' February balance sheet is comprised of $ of notes receivable. Two notes make up the amount. The first note has a face value of $ and bears interest at percent for days. The second note has a face value of $ and bears interest at percent for days. Record the journal entry for the collection of the percent note on May and the dishonor of the percent note on June Omit explanations; assume no interest had been accrued; amounts rounded to nearest dollar.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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