Question: Metric Company received a 5 month, 8% note, dated October 1, for $30,000 to settle an outstanding account that impers Compey M matures. INSTRUCTIONS:

Metric Company received a 5 month, 8% note, dated October 1, for

Metric Company received a 5 month, 8% note, dated October 1, for $30,000 to settle an outstanding account that impers Compey M matures. INSTRUCTIONS: Prepare all necessary journal entries in GOOD FORM for each of the following transactions. Reference chr ALL COMPUTATIONS (After the account.name in parentheses or below the appropriate journal entry marked with asterisk ama Debit Accounts ( x ) Credit Accounts or Debit Accounts wwww Credit Accounts wwww "(### x ###) TRANSACTIONS: . October 1, 2022 Receipt of the note December 31, 2022-Adjusting entry due to Books Closing for End of Year Financial Statements. March 1, 2023 - Received notification from Imperial Company that they were unable to honor the note at this time. It is expected that Imperial will pay at April 15, 2023- Received full payment from Imperial Company for the note previously dishonored.

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