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Safari File Edit View History Bookmarks Window Help Homework 4 | | + | M ezto.mheducation.com/hm.tpx Reader Apple icloud Facebook Twitter Wikipedia Yahoo News. Popular Homework 4 lectures.mhhe.com/connect/1259307956/guidedexamples /... Having Trouble With This Question. Thanks For The Help. | 6: Reading List Bookmarks On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $9,500, in payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell & Associates on September 1 Favorites Bar Required: For Terrell & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) view transaction list view general journal PM Journal Entry Worksheet Record the signing of the note in payment of legal services Date General Journal Debit Credi March 01 No journal entry re1 Accounts payable Accounts receivable Advertising expense Allowance for urfrlrrtith acoouunts Bad debt expense ancouintsEnter debits before credits one Buildings record entry Cash Common stock Deferred revenue

Explanation / Answer

Interest income=$9,500*10%*6/12=

date account description debit credit March 1 10 % Notes receivable $9,500 revenue from services $9,500 Sep 01 cash $9,975 10% notes recevable $9,500 interest income $475

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