Accounting for a note receivable On June 6, Lakeland Bank & Trust lent $80,000 to Stephan Stow

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Accounting for a note receivable On June 6, Lakeland Bank & Trust lent $80,000 to Stephan Stow on a 30-day, 9% note.

Requirements

1. Journalize for Lakeland the lending of the money on June 6.

2. Journalize the collection of the principal and interest at maturity. Specify the date.

Round to the nearest dollar.

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Horngrens Financial And Managerial Accounting The Managerial Chapters

ISBN: 9781292412337

7th Global Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura

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Question Posted: Feb 02, 2024 05:00 AM

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Accounting for a note receivable On June 6, Lakeland Bank & Trust lent $80,000 to Stephan Stow

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Sure I can help with that In this scenario Stephan Stow borrows 80000 from Lakeland Bank Trust The i...View the full answer

Horngrens Financial And Managerial Accounting The Managerial Chapters

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