Question: Exercise 111 Record the following note payable transactions of Lambda Company in the companys general journal. Explanations are not required. 2009 Jun. 1 Purchased delivery

Exercise 11–1 Record the following note payable transactions of Lambda Company in the company’s general journal. Explanations are not required.

2009 Jun. 1 Purchased delivery truck costing $86,000 by issuing a one-year, 4-percent note payable.

Dec. 31 Accrued interest on the note payable.

2010 Jun. 1 Paid the note payable at maturity.

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