Question: On August 3 1 , 2 0 2 1 , Brooke Tanner borrowed $ 1 1 , 0 0 0 from Armour State Bank. Tanner
On August Brooke Tanner borrowed $ from Armour State Bank. Tanner signed a note payable, promising to pay the bank principal plus interest on August The interest rate on the note is The accounting year of Armour State Bank ends on June Journalize Armour State Bank's a lending money on the note receivable at August b accrual of interest at June and c collection of principal and interest at August the maturity date of the note.
Journalize Armour State Bank's a lending money on the note receivable at August b accrual of interest at June and c collection of principal and interest at August the maturity date of the note. Record debits first, then credits. Exclude explanations from any journal entries.
a Prepare the journal entry for the issuance of the note receivable on August
tableJournal EntryDateAccounts,Debit,Credit,,,Aug
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