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Home Q & A Board Other Fields Homework Help Business Accounting
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majestico majestico
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6 years ago
Prepare the journal entries for the following transactions for Dobson Industries Company.
a) Dobson sold $8,000 of merchandise to Bolt Imports Company on account. The company uses the periodic method.
b) Dobson accepted a 90-day, 7% note from Bolt in settlement of its account.
c) Bolt defaulted on its note on the maturity date.
d) Collected the previously defaulted Bolt note plus $25 additional interest.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
Author:
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keytwokeytwo
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6 years ago
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majestico Author
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#2
6 years ago
This is excellent. Excellent answer
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