Question: Answer in detail please. Additional Problem 5 In an effort to raise some cash for operating activities, Concord Corporation approached Riverbed Ltd. and asked to


Answer in detail please.
Additional Problem 5 In an effort to raise some cash for operating activities, Concord Corporation approached Riverbed Ltd. and asked to borrow $109,000 (the Presidents of Concord and Riverbed were cousins). Riverbed agreed to loan $109,000 to Concord or three months at 6% interest. On August 1 Concord signed a promissory note for the amount, promising to repay the und lu, interest on November Prepare all the journal entries on the books of Riverbed to record the note receivable, assuming that Riverbed's fiscal year-end is September 30 and repayment of the note receivable plus interest occurs on November 1. (Credit account titles are automatically indented when amount is entered. Do not indent manualy. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) DateAccount Titles and Explanation Debit Credit
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