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C.S. Lewis Company had the following transactions involving notes payable. July 1, 2015 Borrows $52,500 from First National Bank by signing a 9-month, 8% note.
C.S. Lewis Company had the following transactions involving notes payable.
| July 1, 2015 | Borrows $52,500 from First National Bank by signing a 9-month, 8% note. | |
| Nov. 1, 2015 | Borrows $63,600 from Lyon County State Bank by signing a 3-month, 6% note. | |
| Dec. 31, 2015 | Prepares adjusting entries. | |
| Feb. 1, 2016 | Pays principal and interest to Lyon County State Bank. | |
| Apr. 1, 2016 | Pays principal and interest to First National Bank. |
Prepare journal entries for each of the transactions.
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Payroll Fraud Detection And Prevention Audit Expert System
Authors: Titus Oniyilo
1st Edition
136564345X, 978-1365643453
