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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
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. June 30 Interest Expense Interest Payable 410 410 Attempts: 1 of 1 used (c) Prepare the entry to record payment of the note at maturity. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit July 31
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