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Lemon Grove Co. received two notes receivable from customers on account, one for $30,000 from Bradshaw Co. and one for $25,000 from Soto Co. Both notes were later dishonored and the customer accounts were charged. Lemon Grove Co. then received cash for the dishonored Bradshaw Co. note including interest and wrote off the charged amount for the Soto Co. note against an allowance account.

Author

Anbu jaromia

Language

EN