How will the journal entry for this transaction be made

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Reference no: EM131070493

ABC Company accepts a $2,000.00, three month note payable at 12% in settlement of XYZ Company's account receivable. XYZ Company originally owed $1,800.00 for merchandise and $347.00 in finance charges. How will the journal entry for this transaction be made?

Reference no: EM131070493

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How will the journal entry for this transaction be made : ABC Company accepts a $2,000.00, three month note payable at 12% in settlement of XYZ Company's account receivable. XYZ Company originally owed $1,800.00 for merchandise and $347.00 in finance charges. How will the journal entry for this transaction ..

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