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Journalize the Following Transactions of Upton Drugs

question 73

Essay

Journalize the following transactions of Upton Drugs:
July 8 Received a $180,000,90-day,8% note dated July 8 from Miracle Chemical on account.
Oct.6 The note is dishonored by Miracle Chemical.
Nov.5 Received the amount due on the dishonored note plus interest for 30 days at 10% on the total amount charged to Miracle Chemical on Oct.6.


Definitions:

Posttranslational Control

Regulation of gene expression that controls activity or functions of proteins, usually by phosphorylation or other chemical modifications of the protein. Compare with transcriptional-level control, translational-level control, and posttranscriptional control.

Translational Control

The regulation of protein synthesis in a cell by various mechanisms that act on the process of translating RNA into protein.

Transcriptional Control

The regulation of gene expression at the transcription stage, determining when and how much RNA is produced from a gene.

Repressible System

A regulatory system in which the presence of a specific molecule inhibits gene expression.

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