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help please make sure i can see all the answers Rainey Enterprises loaned $35.000 to Small Ca on June 1, Year 1. for one year
help please make sure i can see all the answers
Rainey Enterprises loaned $35.000 to Small Ca on June 1, Year 1. for one year at 7 percent interest Required Show the effects of the following transactions in a horizontal statements model (Enter any decreases to account balances and cash outflows with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity (OA). Investing actvity (1A), or financing activity (FA). Not all cells require input. Do not round Intermediate calculations. Round your final answers to the nearest whole dollar.) (o) The loan to Small Co (2) The adjustment at December 31, Year 1. (3) The adjustment and collection of the note on June 1. Year 2 RAINEY ENTERPRISES Horizontal Statements Model Balance Sheet Income Statement Liabilities Date Assets Notes Receivable Stockholders Equity Retained Revenue Earnings Statement of Cash Flow Cash Interest Receivable Expense Net Income 1 2 . 6/1 Yoar 1 12/31/Year 1 1 Year 2 Adjustment 1/Year 2 Note Collection Step by Step Solution
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