Question: B Problem #5 Prepare the necessary journal entries for the following transactions: (a) On September 1, Cole Company borrowed $300,000 from National Bank on a

B Problem #5 Prepare the necessary journal entries for the following transactions: (a) On September 1, Cole Company borrowed $300,000 from National Bank on a 6-month, 8% note. (b) On December 31, Cole Company accrued interest (assume adjusting entries are only made at the end of the year). Solution 2021

Problem #5 Prepare the necessary journal entries for the following transactions (a) On September 1, Cole Company borrowed $300,000 from National Bank on a 6-month, 8% note (b) On December 31, Cole Company accrued interest (assume adjusting entries are only made at the end of the year). Solution

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