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Current Attempt in Progress Betty Mark and Helen borrowed $13,800 on a 7-month, 10% note from Gem State Bank to open their business, Cullumber's Coffee
Current Attempt in Progress Betty Mark and Helen borrowed $13,800 on a 7-month, 10% note from Gem State Bank to open their business, Cullumber's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. (a)-(b), (d) (a) Prepare a tabular summary to record the receipt of the funds from the loan. (b) Prepare a tabular summary to accrue the interest on June 30. (d) Prepare a tabular summary to record the repayment of the loan on January 1, 2023. Include margin explanations for the changes in revenues and expenses. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Llability or Equity Item that was reduced.) (a) June 1, 2022 $ (b) June 30, 2022 (d) Jan. 1, 2023 eTextbook and Media List of Accounts Save for Later Assets Cash Notes Pay. Liabilities Interest Pay. Attempts: 0 of 3 used Submit
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