Question: Cornerstone Exercise 8-19 Issuing Notes Payable On June 30, Carmean Inc. borrows $250,000 from 1th National Bank with an 8 -month, 7% note. Required: What

Cornerstone Exercise 8-19 Issuing Notes Payable On June 30, Carmean Inc. borrows $250,000 from 1th National Bank with an 8 -month, 7% note. Required: What joumal entry is made on June 30 ? (Record issuance of note payable) Fenteack * check My Wark On this date the company receives the money from the bank, but now has an obligation to pay the money back with intereat in the future

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