Homework Help: accounting

Posted by ana on Saturday, November 13, 2010 at 8:32pm.

Adnan's Flower Shop provides floral arrangements for holidays and events.
Adflans sold Oxford Cdy Hall a holiday arrangement for 10,000 on account in
November Due to a government shutdown in December, Oxford only paid
$1,500 otthe amount due within the prescribed period. Both parties agreed to
satisfy the remaining balance with aten-month note, at 14% interest, all
payable at the end of the note.

Please record the appropriate joumnal entry establishing the note on Adran's
books.

Debit notes receivable 8500
Credit accounts receivable 8500

accounting - SraJMcGin, Saturday, November 13, 2010 at 9:49pm
As long as you are studying accounting, you may find some of the following tutorials handy:

http://search.yahoo.com/search?fr=mcafee&p=addounting+tutorials

Sra

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