Question: Problem #2 Current Liabilities - Interest Dunlin Development Company had the following transactions involving notes payable. Nov. 1, 2019 Borrows $120.000 from Merchants and Marine

Problem #2 Current Liabilities - Interest Dunlin Development Company had the following transactions involving notes payable. Nov. 1, 2019 Borrows $120.000 from Merchants and Marine Bank by signing a 3-month, 10% note Prepares the adjusting entry. Pays principal and interest to Merchants and Marine Bank Dec 31, 2019 Feb. 1, 2020 Instructions November 1, 2019 December 31, 2019 February 1, 2020

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