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29. On October 1, Kimmel Co. signed a $90,000, 60-day discounted note at the bank. The discount rate was 6%, and the note was paid
29. On October 1, Kimmel Co. signed a $90,000, 60-day discounted note at the bank. The discount rate was 6%, and the note was paid on November 30. (Assume a 360-day year is used for interest calculations.) (a) Journalize the entries for October 1 and November 30. (b) Assume that Kimmel Co. signed a 6% note. Journalize the entries for October 1 and November 30. Use the table below to answer (a) and (b) Date Journal Accounts and explanation Debit Credit O
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