Question: On April 1, 2013, Tabor Co. received a $6,000 note from a customer in settlement of a $6,000 account receivable from that customer. The note

On April 1, 2013, Tabor Co. received a $6,000 note from

On April 1, 2013, Tabor Co. received a $6,000 note from a customer in settlement of a $6,000 account receivable from that customer. The note bore interest at the rate of 15% per annum, and the note plus interest was payable March 31, 2014. Required: Use the horizontal model to show the effects of each of these transactions and adjustments: Receipt of the note on April 1, 2013. The accrual of interest at December 31, 2013. The collection of the note and interest on March 31, 2014

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