Question
C.S. Crane Company had these transactions involving notes payable. July 1, 2022 Borrows $50,500 from First National Bank by signing a 9-month, 8% note.
C.S. Crane Company had these transactions involving notes payable. July 1, 2022 Borrows $50,500 from First National Bank by signing a 9-month, 8% note. Nov. 1, 2022 Dec. 31, 2022 Feb. 1, 2023 Apr. 1, 2023 Borrows $62,600 from Lyon County State Bank by signing a 3-month, 6% note. Prepares adjusting entries. Pays principal and interest to Lyon County State Bank. Pays principal and interest to First National Bank.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
