Journalizing note receivable transaction Hot Heat Steam Cleaning performs services on account When a customer account becomes four month old, Hot Heat converts the account to a note receivable During 2013, the company completed the following transaction Apr 28 Performed service on account for Sinclair Club, $18,000 Sep 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 Record the transaction in Hot Heats journal

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Question: Journalizing note receivable transaction Hot Heat Steam Cleaning performs services on account. When a customer account becomes four month old, Hot Heat converts the account

Journalizing note receivable transaction

Hot Heat Steam Cleaning performs services on account. When a customer account becomes four month old, Hot Heat converts the account to a note receivable. During 2013, the company completed the following transaction:

Apr.28	Performed service on account for Sinclair Club, $18,000
Sep.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

Record the transaction in Hot Heats journal

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