Johan Sibelius negotiated a bank loan for $21,000 for 180 days at a bank rate of 10%.
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Johan Sibelius negotiated a bank loan for $21,000 for 180 days at a bank rate of 10%. Assuming the interest is deducted in advance, prepare the entry for Johan to record the bank loan. Assume a 360-day year.
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Related Book For
College Accounting A Practical Approach Chapters 1-25
ISBN: 9780137504282
15th Edition
Authors: Jeffrey Slater, Mike Deschamps
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