LaBelle Company obtains $25,000 in cash by signing a 9%, 6-month, $25,000 note payable to First Bank
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LaBelle Company obtains $25,000 in cash by signing a 9%, 6-month, $25,000 note payable to First Bank on July 1. LaBelle's fiscal year ends on September 30. What information should be reported for the note payable in the annual financial statements?
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Related Book For 
Financial Accounting Tools For Business Decision Making
ISBN: 9780471691952
3rd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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