Question
On November 1, 2015, New Morning Bakery signed a $200,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later
On November 1, 2015, New Morning Bakery signed a $200,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2016. New Morning Bakery should record what adjusting entries at December 31, 2015? What is the journal entry on May 1, 2016?
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Principles Of Corporate Finance
Authors: Richard A Brealey, Stewart C Myers, Franklin Allen
8th Edition
0073130826, 9780073130828
