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May 1 received a 12300 1-year 9 note in exchange for an

Problem - These transactions took place for Ralston Co.

2009 -

May 1 Received a $12,300, 1-year, 9% note in exchange for an outstanding account receivable from S. Dolan.

Dec. 31 Accrued interest revenue on the S. Dolan note.

2010 -

May 1 Received principal plus interest on the S. Dolan note. (No interest has been accrued since December 31, 2009.)

Record the transactions in the general journal. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

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Accounting Basics: May 1 received a 12300 1-year 9 note in exchange for an

Reference No:- TGS02589032

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