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Question - What is a journal entry for the following transactions please be fast The following transactions occur in April and May 2014:
April 1 After much thought, Natalie sells a mixer to Curtis for $1,050 (the cost of the mixer was $553). Curtis signs a two-month, 5% promissory note. Curtis can repay the note at anytime before the due date, with interest accruing to the date of payment.
April 30 Curtis calls Natalie. He expects to pay the amount outstanding in the next week or so.
May 15 Natalie receives a cheque from Curtis in payment of his balance owing plus interest that has accrued.
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