he Gaynor Company had the following transactions involving notes payable during 2019. Jan. 15 Purchased office equipment
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he Gaynor Company had the following transactions involving notes payable during 2019.
Jan. | 15 | Purchased office equipment from Corporate Outfitters and issued a 180-day, 8 percent note for $18,000. |
Apr. | 10 | Borrowed $12,000 at 9 percent from the Guarantee Bank by discounting a 60-day note payable. |
June | 9 | Paid the note due Guarantee Bank. |
July | 14 | Paid the note due Corporate Outfitters. |
Prepare the entries in general journal form to record these transactions. (Assume 360 days in a year. Do not round intermediate calculations.)
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-0078111044
16th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
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