Below are the transactions related to notes receivable activity for Barton Corporation. Record each transaction in the journal provided. Enter the date of the last transaction. 2020 13-Nov Accepted a $40,000, 90-day, 6% note from a customer in exchange for their past due accounts receivable balance 31-Dec Made an entry to accrue the accrued interest earned on the Nov 13 note 2021 11-Feb Received payment for the principal and interest on the note dated November 13 22-Apr Accepted a $20,000, 45-day, 5% note from a customer in exchange for consulting fees provided ??? Received payment for the principal and interest on the note dated April 22 General Journal Date Account Debit Credit 2020 13-Nov 31-Dec 2021 11-Feb 22-Apr

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 14RE: On June 1, Phillips Corporation sold, with recourse, a note receivable from a customer to a bank....

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	Below are the transactions related to notes receivable activity for Barton Corporation.
	Record each transaction in the journal provided. Enter the date of the last transaction.

	2020
	13-Nov	Accepted a $40,000, 90-day, 6% note from a customer in exchange for their past
		due accounts receivable balance

	31-Dec	Made an entry to accrue the accrued interest earned on the Nov 13 note

	2021
	11-Feb	Received payment for the principal and interest on the note dated November 13

	22-Apr	Accepted a $20,000, 45-day, 5% note from a customer in exchange for consulting fees
		provided

	???	Received payment for the principal and interest on the note dated April 22

General Journal

Date

Account

Debit

Credit

2020

13-Nov

31-Dec

2021

11-Feb

22-Apr

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