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During 2020 Aldo Company entered into the following transactions related to current liabilities. Date Transaction description Apr 1 Borrowed $800 from Gamma Co. by signing
During 2020 Aldo Company entered into the following transactions related to current liabilities. Date Transaction description Apr 1 Borrowed $800 from Gamma Co. by signing a 12-month, 8% note. Received an advance payment of $900 from Customer X for a service to be performed in three months. Dec 31 2/3 of the service for Customer X was performed. Dec 31 Prepared adjusting entry to record interest for note issued to Gamma Co. Nov 1 Required: Prepare the journal entries for the above transactions DATE ACCOUNT TITLES DEBIT CREDIT Apr. 1 DATE ACCOUNT TITLES DEBIT CREDIT Nov. 1 DATE ACCOUNT TITLES DEBIT CREDIT Dec. 31 S . DATE ACCOUNT TITLES DEBIT CREDIT Dec. 31 IS
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