The Holtby Company purchased equipment from the Fleury Company in exchange for a $6,000 notes payable on

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The Holtby Company purchased equipment from the Fleury Company in exchange for a $6,000 notes payable on September 1, 20x1. The note is to paid in 90 days with an interest rate of 10%. Assume a 360-day year.

QUESTION:

Record the journal entry on September 1, 20x1.

Related Book For answer-question

Financial and Managerial Accounting the basis for business decisions

ISBN: 978-0078111044

16th edition

Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello

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Posted Date: May 15, 2023 01:03 AM

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The Holtby Company purchased equipment from the Fleury Company in exchange for a $6,000 notes payable on

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On September 1 20x1 when the equipment was purchased and the note payable was issued t... View the full answer

Financial and Managerial Accounting the basis for business decisions

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