Then Create a T account For the above Roger Corporation adjusts its books...
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Then Create a T account For the above
Roger Corporation adjusts its books monthly. On September 30, 2018, notes receivable include the following: Issue Date Mar. 31, 2018 RES Inc. May 31, 2018 hara Ltd. Aug. 31, 2018 Dragon Limited Sept. 30, 2018 MGH Corp. Maker Principal Interest Term $17.6008% 16,600 4% 6.5005% 21,300 5% 7months 18 months 2months 16months Interest is due at maturity for the RES and Dragon notes. Interest is due on thefhrst day of the month for the lhara and MGH notes. At September 30, the balance in the Allowance for Doubtful Notes account is nil. In October,the following selected transactions were completed. Oct. 1 Received the interest due from Ihara 31 Received notice that Dragon was unable to pay its note as scheduled. It expects to be able to pay in the future. 31 The RES note matured and was received in full 31 Accrued interest on the lhara and MGH notes. 31 Analyzed the remaining notes for collectibility. Estimated that $16,600 of notes may not be collectible in the future because of significant labour issues currently being experienced by lhara
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Then Create a T account For the above
