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--:

No. of Days Maker Date of Note 12/17/-- Principal Interest Term P. Harrison T. Rieber K. Burke A. Pai 60 days 14 28 $1,2

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:

No. of Days Maker Date of Note 12/17/-- Principal Interest Term P. Harrison T. Rieber K. Burke A. Pai 60 days 14 28 $1,200 4,000 2,200 4,500 11.0% 90 90 120 12/3/- 12.0 12/1/-- 11/28/-- 9.0 8.5 30

Step by Step Answer:

1 P Harrison 1200 x 011 14360 513 T Rieber 4000 x 012 28360 3733 K Bur...View the full answer

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