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Following are selected transactions Deshawn Company for 2010.

Following are selected transactions Deshawn Company for 2010.

Dec. 13
Accepted a $27,000, 45-day, 7% note dated December 13 in granting Latisha Clark a time extension on her past-due account receivable.
31
Prepared an adjusting entry to record the accrued interest on the Clark note.

Prepare journal entries for the above transactions
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Accounting-=8229631.xls

SOLUTION:
Journal Entries in the books of Deshawn Company
Date
13-Dec 31-Dec Particulars
Notes Receivable - L.Clark
Accounts Receivable - L. Clark
(To record receipt of note on account.)
Interest...

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