Question
1. On November 1, 2021, Ziegler Products issued a $300,000, 6-month, noninterest- bearing note to the bank. Interest was discounted at a 12%. Required:
1. On November 1, 2021, Ziegler Products issued a $300,000, 6-month, noninterest- bearing note to the bank. Interest was discounted at a 12%. Required: 1. Prepare the appropriate journal entry by Ziegler to record the issuance of the note. 2. Prepare the appropriate journal entry on December 31, 2021.
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College Accounting Chapters 1-15
Authors: James Heintz
21st Edition
1285624815, 9781285624815
