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Make journal entry for the following: 1. Record the issuance of note. 2. Record the adjusting entry for interest. 3. Record the payment of the
Make journal entry for the following:
1. Record the issuance of note.
2. Record the adjusting entry for interest.
3. Record the payment of the note and payment of interest at maturity.
On November 1, 2024, Survival Training Corporation borrows $57,000 cash from Community Savings and Loan. Survival Training signs a three-month, 6% note payable. Interest is payable at maturity. Survival's yearend is December 31. Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below. Note: If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Journal entry worksheetStep by Step Solution
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