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i need the answer asap subject :financial accounting question: Question 4 (Total of 9.50 marks) Udala Uke's had the following transactions involving notes payable: July
i need the answer asap
subject :financial accounting
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Question 4 (Total of 9.50 marks) Udala Uke's had the following transactions involving notes payable: July 1, 2021 Borrows $50,000 from First National Bank by signing a nine-month, 8% note. Nov. 1, 2021 Borrows $60,000 from Interprovincial Bank by signing a three-month, 6% note. Prepares annual year-end adjusting entries. Dec. 31, 2021 Feb. 1, 2022 April 1, 2022 Pays principal and interest to Interprovincial Bank. | Pays principal and interest to First Nations Bank. Instructions Prepare journal entries for each of the transactions above. (Record journal entries in the order presented in the problem above.)Step by Step Solution
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