Question: High Pressure Steam Cleaning performs services on account. When a customer account becomes four months old, High Pressure converts the account to a note receivable.

High Pressure Steam Cleaning performs services on account. When a customer account becomes four months old, High Pressure converts the account to a note receivable. During 2018, the company completed the following transactions: 0 (Click the icon to view the transactions.) Record the transactions in High Pressure's journal. Round to the nearest dollar. (Use a 365-day year for computations. Record debits rst, then credits. Select the explanation on the last line of the journal entry table.) Apr. 28: Performed service on account for Revolution Club. $19,000. Credit Accounts and Explanation Accounts ReceivableRevolution Club Cash Performed services on account. 0 More Info Performed service on account for Revolution Club, $19,000. Received a $19,000, 60-day, 12% note from Revolution Club in satisfaction of its past-due account receivable. Collected the Revolution Club note at maturity. C CheckAnswer l 4 )
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
