The following selected transactions were completed by Cactus Co., a supplier of velcro for clothing:
|
2007 |
|
|
Dec. 13. |
Received from Lady Ann’s Co., on account, a $60,000, 90 day, 9% note dated December 13. |
|
31. |
Recorded an adjusting entry for accrued interest on the note of December 13. 2008 |
|
Mar. 12. |
Received payment of note and interest from Lady Ann’s Co. |
Journalize the transaction.