On November 1, Bahama Cruise Lines borrows $3 million and issues a six-month, 5% note payable....

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On November 1, Bahama Cruise Lines borrows $3 million and issues a six-month, 5% note payable. Interest is payable at maturity. B Determine the financial statement effects of (1) the issuance of the note and (2) the adjusting entry for interest owed by December 31, the end of the reporting period Complote this thin by entering your avers in the tates below. Required 1 Required 2 Determine the financial statement effects of the issuance of the note. (Enter your answers in dollars, not millions. For example, $5.5 million shou be entered as 5,500,000.) Assets Balance Sheet Stockholders Equity B On November 1, Bohama Crume Lines borrows $3mon and issues a sox month, 50% note poble interest is payable at maturity ry for interest owed by December 31, Determine the financial statement effects of (t) the issuance of the note and (2) the adju the end of the reporting period. Required 1 Required 2 Determine the financial statement effects of the aucting ontry for interest owed by December 31, the end of the reporting period. (Amounts in be deducted should be enterest with minus sign. Enter your answers in dollard, not millions. For cample. $5.5 million should be entered as 5,500,000.) On November 1, Bahama Cruise Lines borrows $3 million and issues a six-month, 5% note payable. Interest is payable at maturity. B Determine the financial statement effects of (1) the issuance of the note and (2) the adjusting entry for interest owed by December 31, the end of the reporting period Complote this thin by entering your avers in the tates below. Required 1 Required 2 Determine the financial statement effects of the issuance of the note. (Enter your answers in dollars, not millions. For example, $5.5 million shou be entered as 5,500,000.) Assets Balance Sheet Stockholders Equity B On November 1, Bohama Crume Lines borrows $3mon and issues a sox month, 50% note poble interest is payable at maturity ry for interest owed by December 31, Determine the financial statement effects of (t) the issuance of the note and (2) the adju the end of the reporting period. Required 1 Required 2 Determine the financial statement effects of the aucting ontry for interest owed by December 31, the end of the reporting period. (Amounts in be deducted should be enterest with minus sign. Enter your answers in dollard, not millions. For cample. $5.5 million should be entered as 5,500,000.)