Problemon march 31 2013 rogues hot rods negotiated with, Ask an Expert

Accounting

Problem

On March 31, 2013 Rogue's Hot Rods negotiated with Tyson Motors to enter into a 1 year 8.5% Note for the Account Receivable balance outstanding. Rogue's Hot Rods is expected to make a one time payment on the outstanding balance of the Note on March 31, 2014. Prepare the necessary journal entry Tyson Motors would need to make to account for the issuance of the Note Receivable on March 31, 2013.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92750064

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