Eskimo Joes, designer of the worlds second best-selling T-shirt (just behind Hard Rock Cafe), borrows $21 million
Question:
Required:
1. Prepare the journal entries on November 1, 2015, to record
(a) The notes payable for Eskimo Joe’s
(b) The notes receivable for Stillwater National Bank.
2. Record the adjustment on December 31, 2015, for
(a) Eskimo Joe’s and
(b) Stillwater National Bank.
3. Prepare the journal entries on April 30, 2016, to record payment of
(a) The notes payable for Eskimo Joe’s
(b) The notes receivable for Stillwater National Bank.
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Related Book For
Financial Accounting
ISBN: 978-0078025549
3rd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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