Journal entry to record the ultimate payment problem


George Masonry accepted a four month, 10% interest, $1800 note from Earth Tones on July 1,2008 The entire balance is payable at the note's maturity. Assume that george masonry accrues interest on the note monthly. Prepare the Oct 31 journal entry to record the ultimate payment.

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Accounting Basics: Journal entry to record the ultimate payment problem
Reference No:- TGS075284

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