Question
On August 15, Crenshaw Inc borrowed $80,000 cash from Wells Fargo by signing a 5%, 90-day note payable. (5 points) a. Prepare Crenshaw's journal entry
On August 15, Crenshaw Inc borrowed $80,000 cash from Wells Fargo by signing a 5%, 90-day note payable. (5 points)
a. Prepare Crenshaw's journal entry to record the issuance of the note payable.
Date Account Name Debit Credit
b. Prepare Crenshaw's journal entry to record the payment of the note at maturity.
Date Account Name Debit Credit
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Financial Accounting An Introduction To Concepts Methods And Uses
Authors: Clyde P. Stickney, Roman L. Weil
12th Edition
0324381980, 978-0324381986
