Question 1Multi Media Ltd. completed the following transactions:September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days.November 1, 2016: Accepted a one-year, 12% note from Inga Corporation to settle its account.December 31, 2016: Accrued interest on the note from Inga Corporation (round to the nearest dollar).November 1, 2017: Received amount due from Inga Corporation.Required:Record entries for the above transactions.
- RECOMMENDED!!ACC 317-Summarize the major benefits of forming a corporation
- RECOMMENDED!!ACCT 324-Drab Corporation, a calendar year S corporation,
- RECOMMENDED!!QNT 561 BUSSINESS-To prepare the statement of cash flows, accountants for Vinson
- RECOMMENDED!!MBA 641-Glass company manufactures glasses that it sells
- RECOMMENDED!!ACCT 151-Trego Company issued, on December 31, 2018