8. OLeary Co. received a 180-day, 10% note for $6,200 from a customer, Don Dudek,...
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Accounting
8. OLeary Co. received a 180-day, 10% note for $6,200 from a customer, Don Dudek, in settlement of Dudeks account receivable. Please prepare an appropriate journal entry to record this transaction. Be sure to include a date and an appropriate footnote.
9. 90 days after Dudek issued the note receivable, he paid the note in full. Please record the journal entry to record this transaction. Be sure to calculate, and include the interest amount.
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