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On June 1, Concord Company borrows $82,000 from the bank by signing a 60-day, 6%, interest-bearing note. Prepare the necessary entries below associated with the
On June 1, Concord Company borrows $82,000 from the bank by signing a 60-day, 6%, interest-bearing note. Prepare the necessary entries below associated with the note payable on the books of Concord Company. (a) June 1 Cash Notes Payable 82000 82000 Attempts: 1 of 1 used (b) Prepare any adjusting entries necessary on June 30 in order to prepare the monthly financial statements. Assume no other interest accrual entries have been made. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation June 30 Debit Credit
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