Business, 21.02.2020 22:01 jhanes1983
During 2021, LeBron Corporation accepts the following notes receivable.
A. On April 1, LeBron provides services to a customer on account. The customer signs a four-month, 9% note for $5,500.
B. On June 1, LeBron lends cash to one of the company’s vendors by accepting a six-month, 10% note for $9,500.
C. On November 1, LeBron accepts payment for prior services by having a customer with a past-due account receivable sign a three-month, 8% note for $4,500"
Required: Record the acceptance of each of the notes receivable:
Answers: 2
Business, 22.06.2019 15:00
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Answers: 2
Business, 22.06.2019 19:10
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Answers: 2
Business, 22.06.2019 23:10
Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?
Answers: 2
During 2021, LeBron Corporation accepts the following notes receivable.
A. On April 1,...
A. On April 1,...
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