On June 1, Ellison Co. performed $10,000 of services on account for Kendra Corp. On July 1, Kendra asked Ellison to exchange its account for a 3-month, 12% note, which Ellison did. Kendra paid the note in full.
Required:
Prepare and date all necessary entries for Ellison Co.

Question

On June 1, Ellison Co. performed $10,000 of services on account for Kendra Corp. On July 1, Kendra asked Ellison to exchange its account for a 3-month, 12% note, which Ellison did. Kendra paid the note in full.
	Required:
	Prepare and date all necessary entries for Ellison Co.

Quizplus · Accepted Answer

The Answer of On June 1, Ellison Co. performed $10,000 of services on account for Kendra Corp. On July 1, Kendra asked Ellison to exchange its account for a 3-month, 12% note, which Ellison did. Kendra paid the note in full.
	Required:
	Prepare and date all necessary entries for Ellison Co.