Complete journal entries, Complete journal entries: Jan. 1

Complete journal entries

Assignment Help Financial Accounting

Reference no: EM13752047

Complete journal entries:

Jan. 1 Accepted Kent's 90 days, 10% note, as settlement of an outstanding

$15,000 account receivable for goods sold last year

Jan. 29 Loaned Sam's. $30,000 cash, accepting a 90 days, 10% note

Jan. 31 Prepared accrual adjusting entry for any interest revenue

Mar. 25 Received payment in full from Kent's. for outstanding note & interest

May 1 Received payment in full from Sam's. for outstanding note & interest

Nov. 15 Paid ABC in full

Reference no: EM13752047

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