Nance CoHolds Gant Inc

question 146

Short Answer

Nance Co.holds Gant Inc.'s $30,000, 120-day, 9% note.The entry made by Nance Co.when the note is collected, assuming no interest has previously been accrued is:

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Definitions:

Carefree Disposition

A personality trait characterized by a lack of worry or stress, often resulting in a positive and easy-going attitude.

Fundamental Human Values

Core beliefs and principles that are widely regarded as the basis for ethical behavior and decision making.

Adamant Resolve

A firm determination or unwavering commitment to a course of action.

Friendliness

The quality of being amiable and approachable, often characterized by a positive and warm demeanor towards others.