Notes Receivable
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Exercise 9-6:
Prepare journal entries to record these selected transactions for Vitalo Company.
Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.
Dec. 31 Adjusted the year-end accounts for the accrued interest earned in the White note.
Apr. 30 White honors her note when presented for payment.
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Solution Summary
The solution explains the journal entries relating to notes receivable
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Exercise 9-6:
Prepare journal entries to record these selected transactions for Vitalo Company.
Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.
The accounts receivable is ...
Purchase this Solution
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