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25-27. journalize the following transactions: Mar. 1 May 30 Dec. 11 Received a 90-day,...

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Accounting

25-27. journalize the following transactions: Mar. 1 May 30 Dec. 11 Received a 90-day, 10% note for $36,000, dated March 1, from Burke Co. on account. The note of March 1 was dishonored. Accepted $33,000 in full settlement of the amount owed on the note dishonored on May 30. The allowance method of accounting for uncollectible receivables is used.
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2527. journalize the following transactions: Mar. 1 Received a 90 -day, 10% note for $36,000, dated March 1, from Burke Co. on account. May 30 The note of March 1 was dishonored. Dec. 11 Accepted $33,000 in full settlement of the amount owed on the note dishonored on May 30. The allowance method of accounting for uncollectible receivables is used

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