Question
On December 1, Maisins Furniture Corporation borrowed $20,000 on a 90-day, 6% note. Prepare the journal entries to record the issuance of the note, the
On December 1, Maisins Furniture Corporation borrowed $20,000 on a 90-day, 6% note. Prepare the journal entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note.
Date Account Titles and Explanation Debit Credit Dec 1 Dec 31 Mar 1
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
