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Ellie and Brad Nowland borrowed $12,000 on an 8-month, 10% note from a financial institution to open their business, EB's Caf. The money was
Ellie and Brad Nowland borrowed $12,000 on an 8-month, 10% note from a financial institution to open their business, EB's Caf. The money was borrowed on 1 May 2016. (a) Prepare the entry to record the receipt of the funds from the loan. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually) EB's Caf Journal entries Credit Date Account and explanation May 1 Debit
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Financial Accounting Tools for business decision making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
978-1119191674, 047053477X, 111919167X, 978-0470534779
