Question
Notes Receivable (22 marks) Metro Credit Union in Charlottetown, Prince Edward Island, loaned $90,000 to David Mann on a nine-month, 8% note. Record the following
Notes Receivable (22 marks)
Metro Credit Union in Charlottetown, Prince Edward Island, loaned $90,000 to David Mann on a nine-month, 8% note. Record the following for Metro Credit Union:
Lending the money on February 6;
Collecting the principal and interest at maturity on November 6. Explanations are not required, but show calculations.
DATE
ACCOUNTS
DEBIT
CREDIT
Feb. 6
Nov. 6
calculation:
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The Process Approach Audit Checklist For Manufacturing
Authors: Karen Welch
1st Edition
0873896440, 978-0873896443
