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Record the following transactions in general journal form for Karen Heller Company.
July 1 Received a $20000 8% 3-month note dated July 1 from Nancy Freeman in payment of her open account.
Oct. 1 Received notification from Nancy Freeman that she was unable to honor her note at this time. It is expected that Freeman will pay at a later date.
Nov. 15 Received full payment from Nancy Freeman for her note receivable previously dishonored.
Desired Outcomes
The specific results or goals that one aims to achieve in a particular process or activity.
Simple Design
An organizational structure characterized by minimal complexity, few layers of hierarchy, and straightforward decision-making processes.
Vertical Specialization
Refers to the degree to which tasks in an organization are subdivided into separate jobs.
Central Manager
A key managerial position responsible for overseeing the central or core operations within an organization or department.
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