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Business, 16.03.2020 23:53 chriscol4082
Following are selected transactions for Vitalo Company.
Nov. 1 Accepted a $3,000, 180-day, 7% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.
Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.
Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.
Required:
Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries.
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Following are selected transactions for Vitalo Company.
Nov. 1 Accepted a $3,000, 180-d...
Nov. 1 Accepted a $3,000, 180-d...
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