The following is a list of outstanding notes receivable as of December 31, 20--: REQUIRED 1. Compute

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The following is a list of outstanding notes receivable as of December 31, 20--:

Date of Note No. of Days Maker Interest Term Principal 60 days K. Savelin R. Hillier B. Miranda R. Hansen 12/15/-- 12/3/

REQUIRED
1. Compute the accrued interest at the end of the year.
2. Prepare the adjusting entry in the generaljournal.

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College Accounting

ISBN: 978-0538745192

20th Edition

Authors: Heintz and Parry

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Question Posted: Dec 21, 2011 10:16 AM

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The following is a list of outstanding notes receivable as of December 31, 20--: REQUIRED 1. Compute

Question:

Date of Note No. of Days Maker Interest Term Principal 60 days K. Savelin R. Hillier B. Miranda R. Hansen 12/15/-- 12/3/-- $1,000 5,000 2,800 7,500 10% 16 28 31 43 90 90 12 11/30/-- 11/18/-- 120

Step by Step Answer:

1 K Savelin 1000 x 010 16360 444 R Hillier 5000 x 012 28360 4667 B Mira...View the full answer

College Accounting

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