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.
b-2. Prepare the journal entry to record collection of the note and interest at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
record the collection of principal and interest at the maturity dater of a short
term note on journal entry sheet
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