Question
A Bank agrees to lend Rundle Pty Ltd $200,000 on 1 st January, 20X9. Rundle Pty Ltd signs a $200,000, 4%, 9-month note. Interest is
A Bank agrees to lend Rundle Pty Ltd $200,000 on 1st January, 20X9. Rundle Pty Ltd signs a $200,000, 4%, 9-month note. Interest is paid at maturity. Rundle Pty Ltds financial year ends at 30th June.
The entry made by Rundle Pty Ltd at maturity:
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For Heintz/parrys College Accounting, Chapters 1-15, 22nd Edition, [instant Access]
Authors: James A. Heintz, Robert W. Parry
22nd Edition
1305669886, 9781305669888
