On November 1, 2021, Dual Systems borrows $200,000 to expand operations. Dual Systems signs a six-mornth,...
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On November 1, 2021, Dual Systems borrows $200,000 to expand operations. Dual Systems signs a six-mornth, 9% promissory note. Interest is payable at maturity. Dual Systems' year-end is December 31, 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) On November 1, 2021, Dual Systems borrows $200,000 to expand operations. Dual Systems signs a six-mornth, 9% promissory note. Interest is payable at maturity. Dual Systems' year-end is December 31, 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.)
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Solution Journal entries Date General Journal Debit Cr... View the full answer
Related Book For
Accounting Principles Volume 1
ISBN: 978-1119502425
8th Canadian Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Warren, Lori Novak
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