Question

journal entry worksheet
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accepted a $4,000, 180 - day, 6% note from kelly white in granting a time extension on her past - due account receivable.
note: enter debits before credits.
date general journal debit credit
november 01

Explanation:

Step1: Identify accounts affected

Debit Notes Receivable as we are accepting a note. Credit Accounts Receivable - Kelly White as the past - due account is being converted to a note.

Step2: Determine amounts

The amount of the note is $4,000, so we debit and credit $4,000 respectively.

Answer:

Date	General Journal	Debit	Credit
November 01	Accounts Receivable - Kelly White		4000