Question: value: 2.20 points QS 7-9 Note receivable honored LO P3 On August 2, 2015, Jun Co. receives a $6,200, 90-day, 13.0% note from customer Ryan

value: 2.20 points QS 7-9 Note receivable honored LO P3 On

value: 2.20 points QS 7-9 Note receivable honored LO P3 On August 2, 2015, Jun Co. receives a $6,200, 90-day, 13.0% note from customer Ryan Albany as payment on his $6,200 account. Prepare Jun's journal entry assuming the note is honored by the customer on October 31, 2015. (Use 360 days a year.) View transaction list Journal entry worksheet Record cash received on note plus interest. Note: Enter debits before credits. Date General Journal Debit Credit Oct 31 Record entry Clear entry View general journal

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

QS 7-9 Note receivable honored LO P4 On August 2, Jun Co. receives a $6,300, 90-day, 13.5% note from customer Ryan Albany as payment on his $6,300 account Prepare Jun's journal entry assuming the...

QS 9-12 Note receivable honored LO P4 On August 2 Jun Co. receives a $7,400, 90-day, 13.5% note from customer Ryan Albany as payment on his $7.400 account receivable. Prepare Jun's journal entry...

QS 7-12 Note receivable honored LO P4 On August 2, Jun Co. receives a $6,500, 90-day, 14.5% note from customer Ryan Albany as payment on his $6,500 account receivable

QS 9-9 Note receivable honored LO P4 On August 2, Jun Co. receives a $7,300, 90-day, 13.0% note from customer Ryan Albany as payment on his $7,300 account. Prepare Jun's journal entry assuming the...

QS 9-12 Note receivable honored LO P4 On August 2, Jun Co. receives a $7,400, 90-day, 13.5% note from customer Ryan Albany as payment on his $7,400 account receivable. Prepare Jun's journal entry...

QS 9-12 Note receivable honored LO P4 On August 2, Jun Co receives a $6,300, 90-day, 13.5% note from customer Ryan Albany as payment on his $6,300 account receivable Prepare Jun's journal entry...

QS 9-12 Note receivable honored LO P4 On August 2, Jun Co. receives a $7,500, 90-day, 14.0% note from customer Ryan Albany as payment on his $7,500 acco Prepare Jun's journal entry assuming the note...

OS 7-9 Note receivable honored LO P4 On August 2. Jun Co. receives a $1500, 90-day, 140% note from customer Ryan Albany as payment on his SS00 account Prepare Jun's journal entry assuming the note is...

8 QS 7-12 Note receivable honored LO P4 nts On August 2, Jun Co. receives a $7,100, 90-day, 12.0% note from customer Ryan Albany as payment on his $7,100 account receivable. Prepare Jun's journal...

1.04 points Item Skipped eBookHintPrintReferencesCheck my workCheck My Work button is now enabled2Item 13 QS 7-12 Note receivable honored LO P4 On August 2, Jun Co. receives a $7,600, 90-day, 14.5%...

Some people feel that the income statement is more important than the balance sheet. Do you agree? Why or why not?

Accompanying a bank statement for Borsa Company is a credit memo for $18,200, representing the principal ($17,500) and interest ($700) on a note that had been collected by the bank. The company had...

Which of the following would likely be the most appropriate source of finance for a highly leveraged company facing liquidity issues? Issuing more debt Raising capital through equity Taking on a bank...

Review this sentence: " We recognize that we operate a company in a diverse community, and our management and staff should reflect this." This section from the diversity strategy is an example of the...

What proportion of the 4 percent of revenue that Greener has available should be allocated to base pay increases versus variable pay? Justify your decision.

What are the pros and cons of providing even increases in base pay to all Greener staff?

What recommendations would you have for Raj on how to communicate with Greener employees about the changes to their base pay and/or variable pay?