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How to find current portion of note receivable
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http://i35.tinypic.com/u10dt.jpg My attempt ^ http://i38.tinypic.com/309ivkp.jpg http://i33.tinypic.com/6fqebl.jpg I accounted for interest receivable, I'm at a stand still and do not know where to go from here to calculate the current portion of note receivable.
How do I make a journal entry for interest on notes receivable?
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Interest on all notes was collected on May1. The rate is 12% per year. The accounting system provides for cash collections of interest to be credited first to existing accrued interest receivable carried over from the preceding period. The accrued interest receivable debited in the preceding...
What do I debit/credit in journal entry/adjusting entry?
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Hi. I am unsure about the correct way to debit/credit these entries. Can someone help me? Window Washing Company opened on July 1, 2010. During July the following transactions were completed: July 1 Issued 14,456 shares of common stock for $14,456 cash. July 1 Purchased used truck for...
Note Receivable
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Accepted a 90-day $1,000 note receivable from a company for services performed. How do I journalize this transacation? Note Receivables DR $1,000 and CR to which account? Thanks, Dell View more questions Search
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