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  3. exercise 9-10 elburn supply co. has the following

Exercise 9-10 Elburn Supply Co. has the following transactions related to notes receivable during the...

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Exercise 9-10 Elburn Supply Co. has the following transactions related to notes receivable during the las 2 months of 2017. The company does not make entries to accrue interest except at December 31 Nov. 1 Dec. 11 16 31 Loaned $30,000 cash to Manny Lopez on a 12-month, 10% note Sold goods to Ralph Kremer, Inc., receiving a $85,500, 90-day, 8% note. Received a $87,840, 180 day, 10% note in exchange for Joe Fernetti's outstanding accounts receivable. Accrued interest revenue on all notes receivable

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