On May 1, 2020, BAD Bank agreed to lend Bright Enterprises $82,909. To that effect, Bright signed a $82,909, 10-month, 11% per annum note. Bright Enterprises has a year-end of December 31.

Do not enter dollar signs or commas in the input boxes.
Round your answers to the nearest whole dollar.
For transactions with more than one debit, enter the accounts in alphabetical order.
Prepare the journal entry for Bright Enterprises:
a) On the date the note was signed
b) At year-end
c) On March 1, 2021 when the note is repaid.

Answer rating: 100% (QA)

a On the date the note was signed Debit Cash 82909 Credit Notes Payable ... View the full answer