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Lantana Bank lent $54,000 to Shari Silverthorn on a 30-day, 5 percent note. Record the following transactions for Lantana Bank (explanations are not required) Lending
Lantana Bank lent $54,000 to Shari Silverthorn on a 30-day, 5 percent note. Record the following transactions for Lantana Bank (explanations are not required) Lending the money on June 12 Collecting the principal and interest at maturity (specify the date; for the computation of interest, use a 360-day year and round to the nearest dollar) 1. 2. Journalize the transactions. (Record debits first, then credits. Exclude explanations from any journal entries.) 1. Record the lending of money on June 12 Journal Entry Credit Date Accounts Debit June 12 principal and interest at maturity (specify the date; for the computation of interest, use a 360-day year and round to the nearest dollar. 2, Record the collection Journal Entry Date Accounts Debit Credit
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