Business, 07.07.2021 02:30 jjaheimhicks3419
Journalizing credit sales, note receivable transactions, and accruing interest.
Endurance Running Shoes reports the following:
2018
May 6 Recorded credit sales of . Ignore Cost of Goods Sold.
Jul. 1 Loaned $18,000 to Jerry Paul, an executive with the company, on a one-year, 7% note.
Dec. 31 Accrued interest revenue on the Paul note.
2019
Jul. 1 Collected the maturity value of the Paul note.
Journalize all entries required for Endurance Running Shoes.
Answers: 2
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Journalizing credit sales, note receivable transactions, and accruing interest.
Endurance Running S...
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