Question
On December 1, 2007 Gates Company borrowed $45,000 cash from FirstBank on a 90-day, 9% note payable. a. Prepare Gate's general journal entry to record
On December 1, 2007 Gates Company borrowed $45,000 cash from FirstBank on a 90-day, 9% note payable. a. Prepare Gate's general journal entry to record the issuance of the note payable. b. Prepare Gate's general journal entry to record the accrued interest due at December 31, 2007. c. Prepare Gate's general journal entry to record the payment of the note on March 1, 2010.
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Auditing Investments
Authors: Barbara Davison
1st Edition
0894134272, 978-0894134272
