On December 1, Maisins Furniture Corporation borrowed $20,000 on a 90-day, 6% note. Prepare the journal entries

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On December 1, Maisins Furniture Corporation borrowed $20,000 on a 90-day, 6% note. Prepare the journal entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note.

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Accounting Principles

ISBN: 978-0470533475

9th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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Posted Date: Apr 03, 2020 01:34 AM

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On December 1, Maisins Furniture Corporation borrowed $20,000 on a 90-day, 6% note. Prepare the journal entries

Question:

Date Account Titles and Explanation Debit Credit Dec 1 Dec 31 Mar 1 Date Account Titles and Explanation Debit Credit Dec 1 Dec 31 Mar 1

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Accounting Principles

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