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Frontier LLC gave a loan to a customer in the amount of $100,000 cash on April 1, 2023. The terms of the loan are
Frontier LLC gave a loan to a customer in the amount of $100,000 cash on April 1, 2023. The terms of the loan are a 6% annual interest and the loan will be paid back in full in 6 months time. What is the initial journal entry to account for the note receivable on April 1, 2023? What is the journal entry to account for the total payment, including interest on September 30, 2023?
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College Accounting
Authors: Heintz and Parry
20th Edition
1285892070, 538489669, 9781111790301, 978-1285892078, 9780538489669, 1111790302, 978-0538745192
