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ACC - Meadow Produce sells fresh vegetables and fruits in Polk County

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Question;Meadow Produce sells fresh vegetables and fruits in Polk County. The following adjusted amounts were taken from the company's accounting records at December 31, 2014.Note Payable, 12%, 4 month, dated December 1, 2014 for $20,000 (I figured out that the interest would be $200.00 a month) I just don't know how to show it below in questions A. and B.Note receivable, 10%, 6 month, dated October 1, 2014 for $12,000 (I figured out that the interest would be $. a month) Again I don't know how to show it on the balance sheet or income statement. I will be starting with a tutor next week but that's too late for this assignment. Please I need help.A.) Identify and analyze the effects on the accounting equation of any adjusting transactions that would be necessary at December 31, 2014 for the notes.Balance Sheet Income statementAssets = Liabilities + Stockholders Equity Revenues - Expenses = Net Income;B.) Fill in the partial balance sheet below by showing the notes and the effects of any adjustments related to the notes.Current Assets Current Liabilities

 

Paper#43917 | Written in 18-Jul-2015

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