Star Inc. has a $264,000 note receivable that requires interest to be paid on the...
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Accounting
Star Inc. has a $264,000 note receivable that requires interest to be paid on the 15th of the month. The interest was last received on October 15 and the next collection is due on November 15. Interest accrues at the rate of $105 per day. Fill in the journal below to reflect a. The accrued adjustment on October 31. b. The subsequent interest collection on November 15. Enter the transaction letter (a) or (b) as the description Dates must be entered in the format dd/mmm (ie. 15/Jan.). General Journal Page GJB Date Account/Explanation F Debit Credit
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