Question: Where cach box represents a journal entry line. In first box, G denotes Cash account, 3000 is the amount, D stands for debit, In second
Where cach box represents a journal entry line. In first box, G denotes Cash account, 3000 is the amount, D stands for debit, In second box: B denotes Accounts Receivable account, 2000 is the amount, D stands for debit. And in third box: GG denotes Service Revenues, 5000 is the amount, and C stands for credit. The letters are in capital. Don't use dollar sign, decimal point, comma, or space in any place. If in an entry requires more than one debit or credit accounts, first enter debit accounts (in order of doliar amount - large amount to small amount), then the credit accounts (in order of dollar amount - large. amount to small amount). Question: On March 14t, 2022.JP Company borrowed $120,000 from bank by signing a 9ne-vear 4\% note. The principal & interest has to be paid at the maturity of the note on March 1, 2023. The necessary adjusting entry was made at the end of 2022 in regard to the interest. On March 1st of 2023 the maturity date of the note). JP Company paid the bank for both the princlpal and the interest. Provide journal entry that JP Company must make to record the payment on March 1st,2023, the note's maturity date
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
