Sheridan Company closes its books on its July 31 year-end. The company does not make...

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Accounting

Sheridan Company closes its books on its July 31 year-end. The company does not make entries to accrue for interest except at its year-end. On June 30, the Notes Receivable account balance is $26,200. Notes Receivable includes the following.
\table[[Date,Maker,Face Value,Term,Maturity Date,Interest Rate],[April 21,Sunland Inc.,$4,000,90 days,July 20,7%
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