Question: Current Attempt in Progress Your answer is partially correct. Teal Mountain's had the following transactions involving notes payable. July 1 , 2 0 2 4
Current Attempt in Progress
Your answer is partially correct.
Teal Mountain's had the following transactions involving notes payable.
July Borrows $ from First National Bank by signing a ninemonth, note.
Nov. Borrows $ from Interprovincial Bank by signing a threemonth, note.
Dec. Prepares annual yearend adjusting entries.
Feb. Pays principal and interest to Interprovincial Bank.
Apr. Pays principal and interest to First National Bank.Prepare journal entries for each of the transactions. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account
titles and enter for the amounts. List all debit entries before credit entries. Record journal entries in the order presented in the problem.
Feb.
Interest Expense
Interest Payable
Notes Payable
Cash
Interest Expense
Interest Payable
Cash
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