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Hurry and will thumbs up! On October 31, 2020, DonutCo Company signed a $890,000, 5%, ten-month note payable with the amount borrowed plus accrued interest
Hurry and will thumbs up!
On October 31, 2020, DonutCo Company signed a $890,000, 5%, ten-month note payable with the amount borrowed plus accrued interest due ten months later on Aug. 31, 2022. DonutCo records the appropriate adjusting entry for the note on December 31, 2021. Make the journal entry to record the payment of the note plus accrued interest at maturity on Au. 31, 2022. (Round final answers to whole dollars)
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