On May Tabor Company received an $ note from a customer in settlement of an $ account receivable from that customer. The note bore interest at the rate of per annum, and the note plus interest was payable April
Required:
Use the horizontal model to show the effects for addition and for subtraction of each of these transactions and adjustments:
a Receipt of the note on May
b The accrual of interest at December
c The collection of the note and interest on April
tableTransaction,Type of financial statement,Accounts,Amountaabbcccc
