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Record cash received on note plus interest

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Question - On August 2, 2015, Jun Co. receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account.

Record cash received on note plus interest.

Prepare Jun's journal entry assuming the note is honored by the customer on October 31, 2015. (Use 360 days a year.)

Reference no: EM132066974

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