Question

Motora Systems borrows $137,000 cash on May 15, 2009, by signing a 180-day, 9% notes.
1. On what date does this note mature?
2. Suppose the face value of the note equals $137,000, the principal of the loan. Prepare the journal entries to record.
(a) Issuance of the note.
(b) Payment of the note at maturity.


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  • CreatedMarch 18, 2015
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