On January 1, 2014, LeMay-Finn, Co., signed a $200,000, five-year, 6% note. The loan required LeMay-Finn to
Question:
Requirements
1. Journalize the issuance of the note on January 1, 2014.
2. Journalize the reclassification of the current portion of the note payable.
3. Journalize the first note payment on December 31, 2014.
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0132497978
3rd Edition
Authors: Horngren, Harrison, Oliver
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