Discuss the acceptance of each of the notes receivable

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Reference no: EM131520754

Question: During 2012, LeBron Corporation accepts the following notes receivable.

a. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $6,000.

b. On June 1, LeBron lends cash to one of the company's executives by accepting a six-month, 10% note for $10,000.

c. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $5,000.

Required: Record the acceptance of each of the notes receivable.

Reference no: EM131520754

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