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Moss County Bank agrees to lend the Blossom Company $665000 on January 1. Blossom Company signs a $665000, 6%, 9-month note. The entry made
Moss County Bank agrees to lend the Blossom Company $665000 on January 1. Blossom Company signs a $665000, 6%, 9-month note. The entry made by Blossom Company on January 1 to record the proceeds and issuance of the note is Cash 665000 Interest Expense 29925 Notes Payable 694925 Cash 665000 Interest Expense 29925 Notes Payable 665000 Interest Payable 29925 Interest Expense 29925 Cash 635075 Notes Payable 665000 Cash 665000 Notes Payable 665000
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