Question: Could do you please explain this question If a customer defaults on a $20,000 Accounts Receivable and Barnes Inc. decides to replace it with a

Could do you please explain this question If a customer defaults on a $20,000 Accounts Receivable and Barnes Inc. decides to replace it with a 16 month 6% Note on 9/1/20X0, show the required journal entry? 2 - What would be the adjusting entry required at the end of 20X0? 3- Show the entry to collect when the Note comes due 12/31/20X0? 4- Show the entry if the customer defaults on the Note on 12/31/20X0?

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