Lakeland Bank & Trust Company lent $110,000 to Samantha Michael on a 90-day, 9% note. Requirement 1.
Question:
Requirement
1. Journalize the following transactions for the bank (explanations are not required):
a. Lending the money on June 6.
b. Collecting the principal and interest at maturity. Specify the date. For the computation of interest, use a 360-day year.
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Req 1 Journal Entry DATE ACCOUNTS AND EXPLANA...View the full answer
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John Kago
Am a processional practicing accountant with 5 years experience in practice, I also happens to have hands on experience in economic analysis and statistical research for 3 years. am well conversant with Accounting packages, sage, pastel, quick books, hansa world, etc, I have real work experience with Strata, and SPSS
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Related Book For 
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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