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A company has a fiscal year-end of December 31: (1) on October 1, $20,000 was paid for a one-year fire insurance policy: (2) on June 30 the company loaned its chief financiai officer $18,000; principal and interest at 8% on the note are due in one year; and (3) equipment costing $68,000 was purchased at the beginning of the year for cash. Prepare journal entries for each of the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2. 3 On October 1,520,000 was paid for a one-year fire insurance policy. Wote I Iilur debuit befors orpias. A company has a fiscal year-end of December 31: (1) on October 1, $20,000 was paid for a oneJune 30 the company loaned its chief financial officer $18,000; principal and interest at 8% on (3) equipment costing $68,000 was purchased at the beginning of the year for cash. Prepare journal entries for each of the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the Journal entry worksheet On June 30 the company loaned its chief financial officer $18,000; principal and interest at 8% are due in one year. Note: Enter debits before credits. A compe 30 the company loaned its chief financial officer $18,000; principal and interest at 8% on the (3) equipment costing $68,000 was purchased at the beginning of the year for cash. Prepare journal entries for each of the above transactions. Note: If no entry is required for a transaction/event, select "No journal entry required" in the fir Journal entry worksheet Equipment costing $68,000 was purchased at the beginning of the year for cash. Note: Enter debits before credits