Question
C.S. Coronado Company had these transactions involving notes payable. July 1, 2022 Borrows $51,500 from First National Bank by signing a 9-month, 8% note. Nov.
C.S. Coronado Company had these transactions involving notes payable. July 1, 2022 Borrows $51,500 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Borrows $63,800 from Lyon County State Bank by signing a 3-month, 6% note. Dec. 31, 2022 Prepares adjusting entries. Feb. 1, 2023 Pays principal and interest to Lyon County State Bank. Apr. 1, 2023 Pays principal and interest to First National Bank.
Prepare journal entries for each of the transactions.
Date | Account Titles and Explanation | Debit | Credit | |
---|---|---|---|---|
choose a transaction date July 1, 2022Nov. 1, 2022Dec. 31, 2022Feb. 1, 2023Apr. 1, 2023 | enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | ||
choose a transaction date July 1, 2022Nov. 1, 2022Dec. 31, 2022Feb. 1, 2023Apr. 1, 2023 | enter an account title | enter a debit amount | enter a credit amount | |
enter an account title | enter a debit amount | enter a credit amount | ||
choose a transaction date July 1, 2022Nov. 1, 2022Dec. 31, 2022Feb. 1, 2023Apr. 1, 2023 | enter an account title to record adjusting entry for First National Bank note | enter a debit amount | enter a credit amount | |
enter an account title to record adjusting entry for First National Bank note | enter a debit amount | enter a credit amount | ||
(Adjusting entry for First National Bank note.) | ||||
choose a transaction date July 1, 2022Nov. 1, 2022Dec. 31, 2022Feb. 1, 2023Apr. 1, 2023 | enter an account title to record adjusting entry for Lyon County State Bank note | enter a debit amount | enter a credit amount | |
enter an account title to record adjusting entry for Lyon County State Bank note | enter a debit amount | enter a credit amount | ||
(Adjusting entry for Lyon County State Bank note.) | ||||
| enter an account title | enter a debit amount | enter a credit amount | |
enter an account title |
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