Alexis Corporation had the following transactions:
Oct 1 Exchanged a customer Jim's account receivable for a 4-month, 8% note for $3,500.
Dec 31 Recorded accrued interest on Jim's note.
Record the journal entries required:

Question

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The Answer of Alexis Corporation had the following transactions:
Oct 1 Exchanged a customer Jim's account receivable for a 4-month, 8% note for $3,500.
Dec 31 Recorded accrued interest on Jim's note.
Record the journal entries required:

Alexis Corporation Had the Following Transactions