The following selected transactions were completed by Fasteners Inc. Co., a supplier of buttons and...
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Accounting
The following selected transactions were completed by Fasteners Inc. Co a supplier of buttons and zippers for clothing:
Y
Nov. Received from McKenna Outer Wear Co on account, a $day, note dated November in settlement of a past due account.
Dec. Recorded an adjusting entry for accrued interest on the note of November
Y
Jan. Received payment of note and interest from McKenna Outer Wear Co
Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. Assume a day year when calculating interest. Round answers to the nearest dollar amount.
Y Nov.
Dec.
Y Jan.
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