On April 15,2024, Sampson Consulting provides services to a customer for $100,000. To pay for...
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On April Sampson Consulting provides services to a customer for $ To pay for the services, the customer signs a threeyear, note. The face amount is due at the end of the third year, while annual interest is due each April Hint: Because the note is accepted during the middle of the month, Sampson plans to recognize onehalf month of interest revenue in April and onehalf month of interest revenue in April Required: Record the acceptance of the note on April Record the adjusting entry for interest revenue on December for and and the collection of annual interest on April and Record the cash collection on April Prepare the journal entries for the above transactions. If no entry is requified for a particular transactionevent select No Journal Entry Required" in the first account field. 
On April Sampson Consulting provides services to a customer for $ To pay for the services, the customer signs a threeyear, note. The face amount is due at the end of the third year, while annual interest is due each April Hint: Because the note is accepted during the middle of the month, Sampson plans to recognize onehalf month of interest revenue in April and onehalf month of interest revenue in April
Required:
Record the acceptance of the note on April
Record the adjusting entry for interest revenue on December for and and the collection of annual interest on April and
Record the cash collection on April
Prepare the journal entries for the above transactions. If no entry is requified for a particular transactionevent select No Journal Entry Required" in the first account field.
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