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Agrico Inc. accepted a 10-month, 12.8% (annual rate), $9,000 note from one of its customers...

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Accounting

Agrico Inc. accepted a 10-month, 12.8% (annual rate), $9,000 note from one of its customers on May 15, 2019; interest is payable with the principal at maturity.

Prepare the horizontal model to record collection of the note and interest at maturity. (Use amounts with + for increases and amounts with for decreases.) Balance sheet income statement

Assets Liabilities stockholders equity net income revenue expense

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