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Problem 2 On 12-11-2018, Shoemaker Company converted account receivables of OMR 55,000 into note receivables...

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Accounting

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Problem 2 On 12-11-2018, Shoemaker Company converted account receivables of OMR 55,000 into note receivables of 75 days with 3% interest. The note was honored on the due date. The financial year end in the month December Required: Pass the journal entries for the above transaction

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