Question: On August 31, 2018, Beth Tuck borrowed $2,000 from Carter State Bank. Tuck signed a note payable, promising to pay the bank principal plus interest
On August 31, 2018, Beth Tuck borrowed $2,000 from Carter State Bank. Tuck signed a note payable, promising to pay the bank principal plus interest on August 31, 2019 The interest rate on the note is 9% The accounting year of Carter State Bank ends on June 30, 2019 Joumalize Carter State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2010, and (c) collection of principal and interest at August 31, 2019, the maturity date of the noto Journalize Carler State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2019, and (c) collection of principal and interest at August 31, 2010, the maturity dale of the note (Record debits first, then credits Exclude explanationis from any journal entries) (a) Prepare the journal entry for the issuance of the note receivable on August 31, 2018 Date 2018 Aug 31 Journal Entry Accounts Debit Credit
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