Problem 12 Mid-Night Auto Supply Co.
Question # 00024290
Posted By:
Updated on: 08/27/2014 06:59 AM Due on: 12/31/2015
Problem 12 15 points
On December 16, 2013, Mid-Night Auto Supply Co. accepted a $13,500 note receivable, at 12%, due in 60 days. Note: The note was dated December 16, 2013 (that was 15 days before the end of its annual accounting period ended).
What journal entries would Mid-Night Auto Supply Co. make for the following date?
A) December 16, 2013
B) December 31, 2013
C) February 14, 2014 (the noted is paid in full)
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Rating:
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Solution: Problem 12 Mid-Night Auto Supply Co.