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Record entries for the above transactions

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Problem - Multi Media Ltd. completed the following transactions:

  • September 14, 2016: Provided services to Inga Corporation on account, $3,000, terms 30 days.
  • November 1, 2016: Accepted a one-year, 12% note from Inga Corporation to settle its account.
  • December 31, 2016: Accrued interest on the note from Inga Corporation (round to the nearest dollar).
  • November 1, 2017: Received amount due from Inga Corporation.

Required: Record entries for the above transactions.

Reference no: EM131632873

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