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On August 31, 2018, Brenda Thibeault borrowed $10,000 from Great State Bank. Thibeault signed a note payable, promising to pay the bank principal plus interest
On August 31, 2018, Brenda Thibeault borrowed $10,000 from Great State Bank. Thibeault signed a note payable, promising to pay the bank principal plus interest on August 31, 2019. The interest rate on the note is 9%. The accounting year of Great State Bank ends on June 30, 2019. Journalize Great State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2019, and (c) collection of principal and interest at August 31, 2019, the maturity date of the note. Journalize Great State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of interest at June 30, 2019, and (c) collection of principal and interest at August 31, 2019, the maturity date of the note. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Prepare the journal entry for the issuance of the note receivable on August 31, 2018. Journal Entry Accounts Debit Date Credit 2018 Aug 31 B ? Choose from any list or enter any number in the input fields and then continue to the next question. On August 31, 2018, Brenda Thibeault borrowed $10,000 from Great State Bank. Thibeault signed a note payable, promising to pay the bank principal plus interest on August 31, 2 9%. The accounting year of Great State Bank ends on June 30, 2019. Journalize Great State Bank's (a) lending money on the note receivable at August 31, 2018, (b) accrual of int collection of principal and interest at August 31, 2019, the maturity date of the note. (b) Prepare the journal entry to record the accrual of interest at June 30, 2019. Journal Entry Debit Credit Accounts Date 2019 Jun 30 (c) Prepare the journal entry to record the collection of the note principal and interest at August 31, 2019, the maturity date of the note. Journal Entry Choose from any list or enter any number in the input fields and then continue to the next question. nalize 9%. The accounting year of Great State Bank ends on June 30, 2019. collection of principal and interest at August 31, 2019, the maturity date of the note. (c) Prepare the journal entry to record the collection of the note principal and interest at August 31, 2019, the heaturity date of the note. Journal Entry Debit Credit Date Accounts 2019 Aug 31 Choose from any list or enter any number in the input fields and then continue to the next
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