Question
A business issued a 60-day, 4% note for $19,200 to a creditor on account. The company uses a 360-day year for interest computations. Journalize the
A business issued a 60-day, 4% note for $19,200 to a creditor on account. The company uses a 360-day year for interest computations. Journalize the entries for (a) the issuance of the note and (b) the payment of the note at maturity, including interest.
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Frank Woods Business Accounting Volume 2
Authors: Frank Wood, Alan Sangster
10th Edition
0273693107, 978-0273693109
