What journal entry should the canada company make on april, Ask an Expert

Accounting

The Lethbridge Company purchased merchandise from the Canada Company on January 20, 2009. The Canada Company received a $8,000, 90-day, 10% note as payment from the Lethbridge Company.

What journal entry should the Canada Company make on April 20, 2009 when Lethbridge pays the note?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M962576

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