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24 On November 1, 2021, Dual Systems borrows $120,000 to expand operations. Dual Systems signs a six-month, 8% promissory note. Interest is payable at maturity.
24 On November 1, 2021, Dual Systems borrows $120,000 to expand operations. Dual Systems signs a six-month, 8% promissory note. Interest is payable at maturity. Dual System's year-end is December 31 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 3 Record the appropriate adjusting entry for the note by Dual Systems on December 31, 2021. Note: Enter debits before credits General Journal Debit Credit Date Dec 31, 2021 Clear entry View general journal Record entry 24 On November 1, 2021, Dual Systems borrows $120,000 to expand operations. Dual Systems signs a six-month, 8% promissory note. Interest is payable at maturity. Dual System's year-end is December 31. 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 Record the payment of the note by Dual Systems at maturity on April 30, 2022. Note: Enter debits before credits Debit Credit General Journal Date Apr 30, 2022 View general Journal Clear entry Record entry
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