Answer Happy

Central Perk Equipment Company received a $13,200, six-month, 7 percent promissory note to pay an $13,200 accounts receivable balance owed by a customer. a. The note is accepted by Central Perk on November 1. b. Central Perk accrues interest earned to its December 31 year-end. c. Central Perk receives payment for the interest on the note's maturity date. d. Central Perk receives payment of the principal on the note's maturity date. Prepare journal entries to record the above transactions for Central Perk. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet < 1 2 3 4 > Record the receipt of a note on November 1 for $13,200 to settle an outstanding accounts receivable balance of a customer. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01