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Accounting

Indicate the accounts that would be debited and credited and indicate the type of transaction as: 1) external transaction, 2) internal transaction recorded as an adjusting journal entry, and 3) closing entry.

1. Accrued the interest earned but not collected on notes receivable.

2. Collected a note receivable at maturity, including the interest that had already been accrued.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9968956

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