Nmarch 1, terrell & associates provides legal services to whole grain bakery regarding some recent food poisoning complaints.

legal services total $10,400. in payment for the services, whole grain bakery signs a 9% note requiring the payment of the face amount and interest to terrell & associates on september 1.

required: for terrell & associates, record the acceptance of the note receivable on march 1 and the cash collection on september 1. (if no entry is required for a particular transaction/event, select "no journal entry required" in the first account field.)

Explanation:

The journal entries are shown below:

On March 1

Notes receivable A/c Dr $10,400

     To Service revenue A/c $10,400

(Being the acceptance of the note is recorded)

On September 1

Cash A/c Dr $10,868

   To Notes receivable A/c $10,400

   To Interest revenue A/c $468

(Being the cash collection is recorded)

The computation of the interest revenue is shown below:

= Notes receivable × interest rate × (number of months ÷ total number of months in a year)

= $10,400 × 9% × (6 months ÷ 12 months)

= $468

dual credit courses allow you to take a test at the end of the course that, if you pass it with a high enough score, will give you college credit.

answer; someone must cover the cost associated with the provision of scarce goods in both sectors;