Essay
On June 1, Mike's Motorcycle Shop accepted a 90-day, 10%, $8,000 note from a customer from the sale of a motorcycle. On July 21, after 50 days, Mike discounted the note at First Bank at 8%. Record the journal entries for Mike's Motorcycles.
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Interest: $8,000 × 10% × 90/3...View Answer
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Correct Answer:
Verified
Interest: $8,000 × 10% × 90/3...View Answer
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Get Access to more Verified Answers free of charge
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