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Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 14ISBN: 978-1305653535 Exercise 18
Entries for note collected by bank
Accompanying a bank statement for Borden Company is credit memo for $21,200 representing the principal ($20,000) and interest ($1,200) on a that has been collected by the bank. The company had been notified by the bank at the time of the collection buy had made no entries. Journalize the entry that should be made by the company to bring the accounting records up to date.
Accompanying a bank statement for Borden Company is credit memo for $21,200 representing the principal ($20,000) and interest ($1,200) on a that has been collected by the bank. The company had been notified by the bank at the time of the collection buy had made no entries. Journalize the entry that should be made by the company to bring the accounting records up to date.
Explanation
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Journal Entry: Entries which helps in re...
Corporate Financial Accounting 14th Edition by Carl Warren,James Reeve,Jonathan Duchac
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