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Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
Edition 16ISBN: 978-0077862381 Exercise 52
On September 1, 2015, Health Wise International acquired a 12 percent, nine-month note receivable from Herbal Innovations, a credit customer, in settlement of a $22,000 account receivable.repare journal entries to record the following:
a.he receipt of the note on September 1, 2015, in settlement of the account receivable.
b.he adjustment to record accrued interest revenue on December 31, 2015.
c.he collection of the principal and interest on May 31, 2016.
a.he receipt of the note on September 1, 2015, in settlement of the account receivable.
b.he adjustment to record accrued interest revenue on December 31, 2015.
c.he collection of the principal and interest on May 31, 2016.
Explanation
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Account receivable: It refers to money o...
Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello
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