Hot Heat Steam Cleaning performs services on account When a customer account becomes four months olds, Hot Heat converts the account to a note receivable with interest During 2014, the company completed the following transaction April 28 Performed services on account for Sinclair Club, $18,000 Sept 1 Received an $18,000, 60 day, 9 note from Sinclair Club in satisfaction of its past due account receivable Oct 31 Collected the Sinclair Club note at maturity, including interes ( use a 360 day year) Record the journal entries for Hot Heat Team Cleaning

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Question: Hot Heat Steam Cleaning performs services on account. When a customer account becomes four months olds, Hot Heat converts the account to a note receivable

Hot Heat Steam Cleaning performs services on account. When a customer account becomes four months olds, Hot Heat converts the account to a note receivable with interest. During 2014, the company completed the following transaction.

April 28	Performed services on account for Sinclair Club, $18,000
Sept. 1	Received an $18,000, 60 day, 9% note from Sinclair Club in satisfaction of its past-due account receivable.
Oct. 31	Collected the Sinclair Club note at maturity, including interes. ( use a 360 day year)

Record the journal entries for Hot Heat Team Cleaning.

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