Below are two related transactions for Tweet Corporation. The annual accounting period ends December 31. For each
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Question:
Below are two related transactions for Tweet Corporation. The annual accounting period ends December 31. For each date listed, give the required entry in journal format.
a. October 1, 2017-- Tweet Corporation Borrowed $15,000 and signed a note providing for 10% interest. The principal and interest are due in one year (on September 30, 2018).
b. December 31, 2017--end of the annual accounting period. (If no entry is required, explain why).
Related Book For
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