Question
On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. Assuming the company does not prepare reversing entries,
On December 1, Victoria Company signed a 90-day, 6% note payable, with a face value of $15,000. Assuming the company does not prepare reversing entries, what is the journal entry to record the repayment of the note on March 1?
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Accounting for Governmental and Nonprofit Entities
Authors: Jacqueline L. Reck, James E. Rooks, Suzanne Lowensohn, Daniel Neely
18th edition
1260190080, 1260190083, 978-1259917059
