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    niroiny's Avatar
    niroiny Posts: 2, Reputation: 1
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    #1

    Aug 9, 2010, 04:32 PM
    Journal Entry/Note Receivable
    Can somebody help me? :confused:

    1. What is the journal entry required to record the receipt of payment of the following Note Receivable? The following note was paid on the maturity date, August 24, 2009: ($ 36,000 8% 90 day note)

    2. If the above note, described in question # 2, was not paid (dishonored) how would you record the journal entry on the due date August 24, 2009?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Aug 10, 2010, 08:11 PM

    Principles of Accounting Chapter 7

    That's an online textbook. Please read and then make an attempt to do your work. You're certainly welcome to post what you've come up with and someone can check it for you.
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