Record the following note payable transactions of Cranmore, Corp., in the companys journal. Explanations are not required.
Question:
Record the following note payable transactions of Cranmore, Corp., in the company’s
journal. Explanations are not required.
2012
Feb 1 Purchased equipment costing $30,000 by issuing a one-year, 10% note payable.
Dec 31 Accrued interest on the note payable.
2013
Feb1 Paid the note payable at maturity.
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Journal DATE ACCOUNTS POST REF Dr Cr 2012 Feb 1 Equipment 30000 Not...View the full answer
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