Question: Knowledge Check 01 Android Products, Inc., agreed to accept a $1.000, one-year 10 percent note from C Mate. On its maturity date of December 16.
Knowledge Check 01 Android Products, Inc., agreed to accept a $1.000, one-year 10 percent note from C Mate. On its maturity date of December 16. Mate honors the note by making a payment of $1,100. That payment consisted of the principal of $1.000 plus interest in the amount of $100 (computed as $1,000 - 10%). Prepare the necessary December 16 entry for Android by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns View transaction fist Journal entry worksheet
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