Griffin Enterprises issues a $660,000, 45-day, 4% note to Romo Industries for merchandise inventory. a. Journalize Griffin
Question:
a. Journalize Griffin Enterprises' entries to record:
1. The issuance of the note.
2. The payment of the note at maturity.
b. Journalize Romo Industries' entries to record:
1. The receipt of the note.
2. The receipt of the payment of the note at maturity.
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Step by Step Answer:
a 1 Merchandise Inventory 660000 Notes Payable 6...View the full answer
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-1285866307
13th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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