Morgan furniture company on an account

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Reference no: EM13943603

Master Designs Decorators issued an 180-day, 4% note for $76,800, dated May 14, 2016, to Morgan Furniture Company on an account.

Required:

Journalize the entries to record the following: (1) receipt of the note by Morgan Furniture and (2) receipt of payment of the note at maturity. Refer to the Chart of Accounts for exact wording of account titles

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT
1		?		?
2

Reference no: EM13943603

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Morgan furniture company on an account : Master Designs Decorators issued an 180-day, 4% note for $76,800, dated May 14, 2016, to Morgan Furniture Company on an account.

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