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ART A: Record the following transactions for Pendant Publishing: Date Transaction Nov 30, 2022 Pendant Publishing purchased $103,000 of equipment. Rather than paying cash, Pendant
ART A: Record the following transactions for Pendant Publishing:
Date | Transaction | |||||||
Nov 30, 2022 | Pendant Publishing purchased $103,000 of equipment. Rather than paying cash, Pendant issued a 120-day, 17% note payable. | |||||||
Dec 31, 2022 | Fiscal year-end date for Pendant Publishing. Pendant accrued interest owing on the note (Round to 2 decimal places) |
If you have a general journal template in Word or Excel, you can use that and copy and paste into Blackboard. However, if you choose to do the entries right into Blackboard, please format the journal entries in this way: [date] debit to [account name] for [amount] (calculations here if you want to show them) credit to [account name] for [amount] (calculations here if you want to show them) [description of entry]
PART B: What is the maturity date of this note payable?
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