(Answered) On april 1 fly corporation accepted cash of 15000 and a

Accounting

On April 1, Fly Corporation accepted cash of $15,000 and a six-month, 6%, $75,000 interest-bearing note from Gonzo, Inc., as settlement of an account receivable. Fly has a fiscal year end of June 30, and Gonzo paid the principal and the interest at maturity

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