How will the journal enty for this transaction be made


$2,000 three month note payable at 12% in settlement of xyz company's account receivable. XYZ originally owed $1,800 for merchandise and $347 in finance charges, how will the journal enty for this transaction be made?

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: How will the journal enty for this transaction be made
Reference No:- TGS083682

Expected delivery within 24 Hours