6. Sandra writes an "IOU" to Joe for services rendered equalling $10,000. She agrees that...
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Accounting
6. Sandra writes an "IOU" to Joe for services rendered equalling $10,000. She agrees that payment will be made in full in 6 months at 10% interest. (1 Mark Each ) A. What would Joe's journal entry be to record the transaction B. How much interest will be payable at the end of 6 moths? 5. Record the following journal entries during Joe's first months of operations: (1 Mark Each) a) Performed various services for clients on account for $165,0000 b) Collected $80,000 from credit customers C) Estimated bad debt expense to be $40,000 d) Decided Mary would never pay her account outstanding of $3,000
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