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During 2020 Aldo Company entered into the following transactions related to current liabilities. Date Transaction description Jul 1 Borrowed $600 from Delta Co, by signing
During 2020 Aldo Company entered into the following transactions related to current liabilities. Date Transaction description Jul 1 Borrowed $600 from Delta Co, by signing a 12-month, 6% note. Received an advance payment of $400 from Customer A for a service to be performed in two months. 50% of the service for Customer A was performed. Dec 31 Prepared adjusting entry to record interest for note issued to Delta Co. Deci Dec 31 Required: Prepare the journal entries for the above transactions DATE ACCOUNT TITLES DEBIT CREDIT bul. a N . Accounts Receivable DATE DEBIT CREDIT Dec. 1 Interest Payable Notes Receivable Notes Payable Cash Unearned Service Revenue Interest Expense Service Revenue Accounts Payable ACCOUNT TITLES . DATE DEBIT CREDIT Dec. 31 . DATE ACCOUNT TITLES DEBIT CREDIT Dec. 31 e
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