Question
Company A and Company B each borrow $2,400 from the bank. Company A signed a 90-day, 10% note. Company B signed a 120-day, 9% note.
Company A and Company B each borrow $2,400 from the bank. Company A signed a 90-day, 10% note. Company B signed a 120-day, 9% note. How will each of these companies record these events in their respective general journals on the day the money was borrowed?
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Cost Accounting
Authors: Les Heitger, Pekin Ogan, Serge Matulich
2nd Edition
053881764X, 978-0538817646
