How to journalize a bank reporting, Accounting Basics

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How to journalize a bank reporting

Question:

How to journalize a 2-month, 6%, $203 million note receivable from a large corporate customer in exchange for the customer's past due account? Note: the company made the proper year-end adjusting entry for the interest on this note. Also, how to journalize a bank reporting $58 million of NSF checks on from customers?

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Accounting Basics: How to journalize a bank reporting

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Accounting Basics: How to journalize a bank reporting

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