Question

n this exercise we will continue the accounting for Lydon’s Yard C are, Inc. Assume that on October 31 , 201 2, Lydon’s Yard C are, Inc., borrowed $1 0,000 from Northern C ity Bank, signing a nine-month, 8% note. The fiscal year end is December 31 .

Requirement
1. Prepare the journal entries required on October 31 , 201 2, December 31 , 201 2, and July 31 , 201 3, to record the transactions related to the note. Round your answers to the nearest dollar.



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  • CreatedApril 29, 2014
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