(Answered) Hot heat steam cleaning performs services on account when a

Accounting

Hot Heat Steam Cleaning performs services on account. When a customer account becomes four months old, Hot Heat converts the account to a note receivable. During 2012, the company completed the following transactions:

Apr 28 Performed service on account for Sinclair Club, $18,000.

Sep 1 Received an $18,000, 60-day, 9% note from Sinclair Club in satisfaction of its past-due account receivable.

Oct 31 Collected the Sinclair Club note at maturity.

Requirement

1. Record the transactions in Hot Heat's journal.

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