Selkirk Company obtained a $21,000 note receivable from a customer on January 1, 2021. The note,...
Selkirk Company obtained a $21,000 note receivable from a
customer on January 1, 2021. The note, along with interest at 10%,
is due on July 1, 2021. On February 28, 2021, Selkirk discounted
the note at Unionville Bank. The bank’s discount rate is
12%.
Homework Answers
![1. Solution Date General Journal Debit Gedet Feb 28 350 350 Interest receivable Interest revenue [21000 x 100%X 2112] - 2 | D](http://img.homeworklib.com/questions/21098e60-7415-11ea-ad3d-775809a10a3c.png?x-oss-process=image/resize,w_560)
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Selkirk Company obtained a $21,000 note receivable from a
customer on January 1, 2021. The note,...
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