(Answered) Question - on february 1 marino marine equipment sold

Accounting

Question - On February 1, Marino Marine Equipment sold several pieces of inventory to Soberberg Sails for $7000, by Soberberg signing a five-month (12% annual interest rate) note, accrued monthly but all payable on June 30.

Record on Marino's book the entry on June 30 that recognizes Soderberg's payment satisfying the note receivable.

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