Denali Jungle Corporation needed to borrow money to finance a future expansion, so they signed a note

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Denali Jungle Corporation needed to borrow money to finance a future expansion, so they signed a note for $230,000 on October 1. The note carried a 11 percent interest rate. The principal and interest on the note are due on May 1 of the following year. Prepare the following journal entries to record the signing of the note on October 1 and the adjusting entry needed on December 31 of the current year

Posted Date: May 18, 2024 09:13 PM

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Denali Jungle Corporation needed to borrow money to finance a future expansion, so they signed a note

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