A business issued a 90-day, 15% note for $91,000 to a creditor on account. Journalize the entries
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Question:
A business issued a 90-day, 15% note for $91,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year.
If an amount box does not require an entry, leave it blank.
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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