Question: Question 2 : ( 1 0 marks ) Marin Ltd . started the year with a balance owing from Stratford Inc. of $ 3 1

Question 2: (10 marks)
Marin Ltd. started the year with a balance owing from Stratford Inc. of $31,200. After several
phone calls, on Feb. 1,2025, Stratford offered to sign a 5% note for the balance owing. The note
is due May 1,2025. Marin has a calendar year end and adjusts its accounts monthly. On May
5, Marin Ltd. was notified that Stratford Inc. went bankrupt and would not be paying off its debts.
Required:
Prepare all journal entries and month-end adjusting entries from Feb. 1,2025 to May 5,2025
for Marin Ltd.
Question 2: (10 marks) Marin Ltd. started the year with a

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