Question: Register Transaction : Journal Entry: Credit/Debit 1. Borrowed $ 5000 cash at 3% interest rate for 23 months 2. Paid the city $ 30 for

Register Transaction :
Journal Entry: Credit/Debit
1. Borrowed $ 5000 cash at 3% interest rate for
23 months
2. Paid the city $ 30 for a one- year operating
license for the business
3. Paid $2,400 in advance for Sept., Oct. and
Nov. rent of office space
4. Paid $ 600 for a six month insurance policy
with coverage beginning today

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