Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 408 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 27 Oct 2017 My Price 4.00

MicroTel Enterprises

Interest Receivable

On June 1, 2008, MicroTel Enterprises lends $60,000 to MaxiDriver Inc. The loan will be repaid in

60 days with interest at 10%.

Required

1. Prepare the journal entry on MicroTel’s books on June 1, 2008.

2. Prepare the adjusting entry on MicroTel’s books on June 30, 2008.

3. Prepare the entry on MicroTel’s books on July 31, 2008, when MaxiDriver repays the principal

and interest.

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 27 Oct 2017 09:10 PM My Price 4.00

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