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Give the general Journal entry to record each of the following transactions for Davidson Company 1. Issued a 6-month, 9 percent note for $72,000 to
Give the general Journal entry to record each of the following transactions for Davidson Company 1. Issued a 6-month, 9 percent note for $72,000 to purchase two forklifts on May 14, 2019 (debit Warehouse Equipment 2. Discounted its own 180-day, noninterest-bearing note with a principal amount of $26,000 at the Nelson Bank and Trust on May 28, 2019. The bank charged a discount rate of 10 percent. 3. Pald the May 14 note on its due date. 4. Paid the note discounted on May 28 on its due date. Analyze: What is the total interest expense for the year as a result of these transactions? General Journal Analyze Give the general journal entry to record each of the above transactions for Dennis Company: (Use 360 days a year.) View transaction list Journal entry worksheet Record entry for 180-day note discounted. Note: Enter debits before credits Date General Journal Debit Credit May 28, 2019 General Journal Analyze Give the general journal entry to record each of the above transactions for Dennis Company: (Use 360 days a year.) View transaction list Journal entry worksheet
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