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On 10/10X Your Co. loaned $80,000 cash to Borrower Co. which signed a 9% 120 day promissory note. Your Co's journal entry on 10/1 would
On 10/10X Your Co. loaned $80,000 cash to Borrower Co. which signed a 9% 120 day promissory note. Your Co's journal entry on 10/1 would include: O Cr.Notes Receivable $80,000 Dr. Notes Payable 580,000 O Cr. Sales $80,000 O Dr. Notes Receivable $80,000 O Dr. A/R $80,000
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CLEP Financial Accounting Study Guide
Authors: Passyourclass
1st Edition
1614330115, 978-1614330110
