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On November 1, 2021, Aviation Training Corp. borrows $43,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 6% note payable. Interest is

On November 1, 2021, Aviation Training Corp. borrows $43,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 6% note payable. Interest is payable at maturity. Aviations year-end is December 31.

Required:

1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Journal entry worksheet

  • Record the issuance of note.

Note: Enter debits before credits.

Date General Journal Debit Credit
November 01, 2021

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