edugen.wileyplus.com | WileyPLUS Chegg Study | Guided Solutions and Study Help I
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edugen.wileyplus.com | WileyPLUS Chegg Study | Guided Solutions and Study Help I Chegg. Blossom Homework Chapter 8 WileyPLs.an Kimmel, Accounting, 6e Help I Sys tem Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Exercise 8-11 Homework Chapter These transactions took place for Concord Corporation Bief Exercise 8-5 Briof Exercise 8-7 Briaf Exercise 8 2016 May Recevec $5,300, 12-month, 3% note in exchange for an outstanding account receivable from R. Stoney. Dec. 31 Accrued interest revenue on the R. Stoney note 2017 May1 Recelved principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2016) Exercise 8-1 Exercise 8-3 Exercise 8-5 Record the transactions in the general journal. The company does not make entries to accrue Interest except at December 31.(Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the probiem.) Excrciac 8-10 Date Account Titles and Explanation Debit Credit Review Scone Review Results by Study Click if you would like to Show Work for this question: Open Show Work SHOW LTST OF ACCOUNTS LINK TO TEXT Question Attempts: O of S used SAVE FOR LATER MIT ANSWERExplanation / Answer
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Accounts and Explanation Debit $ Credit $ May-1-2016 Notes Receivable 5300 Accounts Receivable 5300 ( To record the note receivable agianst accounts receivable) dec-31-2016 Interest Receivable (5300*3%*8/12) 106 Interest Revenue 106 ( To record the accrued interest on notes receivable) 5/1/2017 Cash 5459 Notes Receivable 5300 Interest Receivable 106 Interest Revenue (5300*3%*4/12) 53 ( To record the receipt of cash from notes receivable along with interest)Related Questions
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