Cachet Enterprises loaned $30,000 to Craft Co. on September 1, Year 1, for one year at 6
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Cachet Enterprises loaned $30,000 to Craft Co. on September 1, Year 1, for one year at 6 percent interest.
Required
Show the effects of the following transactions in a horizontal statements model like the one shown next.
1. The loan to Craft Co.
2. The adjustment at December 31, Year 1.
3. The adjustment and collection of the note on September 1, Year 2.
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Related Book For
Introductory Financial Accounting For Business
ISBN: 9781260575309
2nd Edition
Authors: Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Jennifer Edmonds, Philip Olds
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