Record the following transactions for Amy Ice Co. in the general journal:
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2008 May 1 |
Received a $12,000, one year, 10 percent note on account from Rosa’s Hamburger.
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Dec. 31 |
Accrued interest on the note. |
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Dec. 31 |
Closed the interest revenue account. |
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2009 May 1 |
Received principal plus interest on the note. (No interest has been accrued in 2009.) |