On September 1, 2009, George Hanby borrowed $100,000 from The Actors Credit Union and signed a 6%,

Question:

On September 1, 2009, George Hanby borrowed $100,000 from The Actors Credit Union and signed a 6%, one-year note payable, all due at maturity. The interest on this loan is stated separately.
a. The amount Hamby must pay on September 1, 2010, when the note matures is $_________.
b. The interest expense Hamby will recognize on this note in 2010 is $ ________.
c. At December 31,2009, George Hamby's overall liability for this loan amounts to $_______.
d. In the space provided, given the adjusting entry made by George Hanby on December 31, 2009. With respect to this note.
Dec. 31 General Journal
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: