Issuing Notes Payable On August 31, Merryweather International borrows $385,000 from Chase Bank with a 9-month,...
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Issuing Notes Payable On August 31, Merryweather International borrows $385,000 from Chase Bank with a 9-month, 7% note. Required: What journal entry is made at Merryweather's year-end, December 31? If an amount box does not require an entry, leave it blank. Round your answer to the nearest dollar. Dec. 31 (Record accrued interest expense) 88 Issuing Notes Payable On August 31, Merryweather International borrows $385,000 from Chase Bank with a 9-month, 7% note. Required: What journal entry is made at Merryweather's year-end, December 31? If an amount box does not require an entry, leave it blank. Round your answer to the nearest dollar. Dec. 31 (Record accrued interest expense) 88
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