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On March 1. Pronghorn Company borrows $135,000 from New National Bank by signing a 6-month 7%, interest-bearing note. Prepare the necessary entries below associated with
On March 1. Pronghorn Company borrows $135,000 from New National Bank by signing a 6-month 7%, interest-bearing note. Prepare the necessary entries below associated with the note payable on the books of Pronghorn Company (a) Your answer has been saved. See score details after the due date: Prepare the entry on March 1 when the note was issued. (Credit account titles are automatically indented when the amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit March 1 Cash 135.000 Notes Payable 135,000 (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) Debit Credit Date Account Titles and Explanation Sept. 1 List of Accounts Type here to search o i 73F AQI 104
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