Question
1. On October 1, Lucy Company signed a 7%, 20,000, 1-year note at First National Banka.Journalize the signing of the note on October 1b. Journalize
1. On October 1, Lucy Company signed a 7%, 20,000, 1-year note at First National Banka.Journalize the signing of the note on October 1b. Journalize accrued interest as of December 31c.Journalize the retiring of the note on October 1 of the following year.
2. On August 1, Lucy Company signed an 8 month, $15,000, 6.5% note at First National Banka.Journalize the signing of the note on August 1b. Journalize accrued interest as of December 31c.Journalize the retiring of the note on March 31 of the following year.
3. On November 1, Lucy Company signed a 9 month, $18,000 note at 4% interesta.Journalize the signing of the note on November 1b. Journalize accrued interest as of December 31c.Journalize the retiring of the note on July 31 of the following year.
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Financial Reporting And Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
8th Edition
1260247848, 978-1260247848
