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Rotel Purchased Merchandise from TechCom on October 17, 2014

question 149

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Rotel purchased merchandise from TechCom on October 17, 2014. TechCom accepted Rotel's $4,800, 90-day, 10% note as payment. TechCom has a December 31st year end. What entry should TechCom make on January 15, 2015 when the note is honoured?


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