These transactions took place for Ralston Co. 2009 May 1 Received a $6,000, 1-year, 9% note in
Question:
These transactions took place for Ralston Co.
2009
May 1 Received a $6,000, 1-year, 9% note in exchange for an outstanding account receivable from S. Dolan.
Dec 31Accrued interest revenue on the S. Dolan note.
2010
May 1 Received principal plus interest on the S. Dolan note. (No interest has been accrued since December 31, 2009.)
Instructions
Record the transactions in the general journal.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Question Posted: