John Short negotiated a bank loan for $21,000 for 180 days at a bank rate of 10%.
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John Short negotiated a bank loan for $21,000 for 180 days at a bank rate of 10%. Assuming the interest is deducted in advance, prepare the entry for John to record the bank loan.
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My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
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Related Book For
College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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