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2016 May 1 Dec. 31 Accrued interest revenue on the R. Stoney note 2017 May 1 tomaticaily indented when amount is Dec. 31, 2016 May 1, 2017 of
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Journal entries Debit Date May. 1, 2016 Notes receivable Account Titles and explanation Credit 2 $6,800 Accounts receivable To record note received) S6,800 Dec. 31, 2016 Interest receivable S272 S272 Interest revenue o record accrued interest revenue 10 May. 1, 2017 Cash $7,208 Interest receivable Interest revenue Notes receivable S272 S136 S6,800 14 o record re Calculations are shown below: Date Account Titles and explanation Debit Credit 2 May. 1, 2016 Notes receivable 6800 Accounts receivable o record note receive 6 Dec. 31,2016 Interest receivable -c2*6%*(8 /12) Interest revenue -C6 To record accrued interest revenue) 10 May. 1, 2017 Cash -SUMD11D13) Interest receivable Interest revenue Notes receivable -C6 12 13 14 D 13*696(4/12) o record

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