Poole Enterprises loaned $30,000 to Boyd Co. on September 1, 2013, for one year at 6 percent
Question:
Required
a. Record these general journal entries for Poole Enterprises:
(1) The loan to Boyd Co.
(2) The adjusting entry at December 31, 2013.
(3) The adjusting entry and collection of the note on September 1, 2014.
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b. Show the effects of the three above transactions in a horizontal statements model like the one shownbelow.
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a Poole Enterprises General Journal Date Account Titles Debit ...View the full answer
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Related Book For 
Fundamental financial accounting concepts
ISBN: 978-0078025365
8th edition
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
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