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Chapter 8 problem 2 On September 1 , 2 0 2 4 , Hare Today pet - supply store Co . borrowed $ 7 0
Chapter problem
On September Hare Today petsupply store Co borrowed $ from Gone Tomorrow Bank, signing a month, percent note. Interest is to be paid at maturity. Hare Today and Gone Tomorrow both have a December yearend.
Part : Kecord the journal entry for the transaction for Hare Ioday, the borrower, on september It more than one debit or credit is needed, place them in alphabetical order based on the account names. Round final answers to the second decimal place ie to the penny
tabletabletableDateSepASEENICFAccount,CR
Part : Prepare the appropriate adjusting entry, if needed, for Hare Today on December If more than one debit or credit is needed, place them in alphabetical order based on the account names.
Round final answers to the second decimal place ie to the penny
tableDateALSERENICFAccountDec,,,,,,,,
Part : Record the entry at maturity to repay the note at maturity on March If more than one debit or credit is needed, place them in alphabetical order based on the account names.
tableDateALSERENICFMar,,,,,,,
tableAccountDRCR
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