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On March 1, Felton Company borrows $90,000 from Ottawa State Bank by signing a 6-month, 8%, Interest-bearing note. Instructions Prepare the necessary entries below associated
On March 1, Felton Company borrows $90,000 from Ottawa State Bank by signing a 6-month, 8%, Interest-bearing note. Instructions Prepare the necessary entries below associated with the note payable on the books of Felton Company. (a) Prepare the entry on March 1 when the note was issued. (b) Prepare the entry to record payment of the note at maturity
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