Question
Coronado Hoadley and Donna Quayle borrowed $15,200 on a 7-month, 9% bank loan from BMO Bank of Montreal to open their business, C Ds Coffee
Coronado Hoadley and Donna Quayle borrowed $15,200 on a 7-month, 9% bank loan from BMO Bank of Montreal to open their business, C Ds Coffee House Inc. The money was borrowed on June 1, 2022, and the loan matures January 1, 2023. Interest is due at maturity.
(a)
Prepare the entry to record the bank loan. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Date | Account Titles and Explanation | Debit | Credit |
---|---|---|---|
Jun. 1, 2022 | enter an account title for the journal entry on June 1 | enter a debit amount | enter a credit amount |
enter an account title for the journal entry on June 1 | enter a debit amount | enter a credit amount |
b)
c)
d)
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