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    Notes Receivable - Preparing a Journal Entry

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    PART IV ? NOTES RECEIVABLE
    Instructions: Prepare journal entries to record the following events:

    July 1 Stone Company received an 8%, 4-month $9,000 note dated July 1 from a customer on account.

    Nov. 1 The note is honored and no interest has been accrued.

    Nov. 1 Assume instead that the note is dishonored by its maker and there is hope of future collection.

    Nov. 1 Assume instead that the note is dishonored and there is no hope of future collection.

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    https://brainmass.com/business/auditing/notes-receivable-preparing-journal-entry-143985

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    PART IV ? NOTES RECEIVABLE
    Instructions: Prepare journal entries to record the following events:

    July 1 Stone Company received an 8%, 4-month $9,000 note dated July 1 from a customer on account.

    July 1 Notes Receivable Dr 9,000
    Accounts Receivable Cr 9,000
    The accounts receivable is converted to a notes ...

    Solution Summary

    The solution explains journal entries relating to notes receivable.

    $2.19

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