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Business, 24.11.2021 14:00 louie4052

These transactions took place for Sheridan Company. 2021:
May 1 Received a $4,500, 12-months, 8% note in exchange for an outstanding account receivable from R. Stoney. Dec. 31 Accrued interest revenue on the R. Stoney note.

2022:
May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2021.)

Requried:
Record the transactions in the general journal.

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Answers: 3

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These transactions took place for Sheridan Company. 2021:
May 1 Received a $4,500, 12-month...
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