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GEN-X ADS CO. DO ONLY NOTE #6 --Record the December 31 Adjusting entry & February...

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Accounting

imageGEN-X ADS CO. DO ONLY NOTE #6 --Record the December 31 Adjusting entry & February 8 Collection entry.

Gen-X Ads Co. produces advertising videos. During the current fiscal year, Gen-X Ads Co. received the following notes: Date Face Amount Interest Rate Term 1 Jan. 14 $33,000 4% 30 days 2. Mar. 9 60.000 7 45 days 3. 48,000 5 90 days July 12 Aug. 23 4. 16,000 6 75 days 60 days 5. Nov. 15 36,000 8 6. Dec. 10 24,000 6 60 days

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