Financial accounting tools for business decision making

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Reference no: EM1342824

Financial Accounting Tools for Business Decision Making

McNamme Juices sells products in the health-food industry. McNamme sold Johnny Mac merchandise for $5000 on account. Johnny Mac ran into a cash crunch and was able to pay only $1,200 in the prescribed period. Both parties agreed to satisfy the remaining balance with a six month note, at 13% interest, all payable at the end of the note.

Reference no: EM1342824

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