Hello, I need help with the following question(s): rConnect ? ? ??Secure l https

Question

Hello, I need help with the following question(s):

rConnect ? ? ??Secure l https://newconnect.mheducation.com/flow/connect.html Ch 7 Exercises Saved Help Save & Exit Submit Check my work QS 7.9 Note receivable honored LO P4 On August 2, Jun Co receives a $6,000, 90-day, 12% note from customer Ryan Albany as payment on his $6,000 account. 3.88 pcinis Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Use 360 days a year.) eBook View transaction list Hint Piint Journal entry worksheet References Record cash received on note plus interest. Note: Enter debits before credits Date General Journal Debit Credit Oct 31 Mc Graw 803 PM O Type here to search f ~ )7/10/2018

Explanation / Answer

Date General Journal Debit Credit 31-Oct Cash 6,180 interest earned/income 180 note receivable 6,000 (6000*12%*90/360)

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