When the borrower pays sanger the correct amount owed


On February 1, 2010, Sanger Corp. issues cash and accepts a $2,000 note receivable that offers 10% interest and is due in six months. Record the transaction on August 1, 2010, when the borrower pays Sanger the correct amount owed.

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: When the borrower pays sanger the correct amount owed
Reference No:- TGS070990

Expected delivery within 24 Hours