Renewing a Note Receivable Occasionally, on the maturity date, a note may be renewed instead of being paid. When this occurs, (1) the interest on the first note is paid, (2) the first note is canceled, and (3) a new note for the same principal amount is issued, usually at a higher interest rate. Buzz Newsstand had the following transactions. Instructions In your working papers, record the following transactions on general journal page 24.
BUS 207 Notes : April 5 : State Constitution can give you more rights than a federal constitution, but can’t give you less. State : Small claims court = less than $10,000 Justice court Superior court (by county) : can be appealed to appellate court . can be appealed again to California supreme court. Can be appealed to US Supreme Court who only hears very controversial cases. Specialty courts Due process = under the fifth and fourteenth amendment rights. Civil procedure that you have a right to to defend yourself. -Substantive due process= rights Criminal = right to a jury. Jury has to have 90-92% belief to convict someone = burden of proof (criminal) More likely than not, easier to