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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. Aviation's 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.) View transaction list Journal entry worksheet 2 3 1 Record the issuance of note. Noter Enter debits before credits General Journal Dato November 01, 2021 Debit Credit Record entry Clear entry View general journal On November 1, 2021, Aviation Training Corp. borrows $43,000 cash from Community Savings and Loan Aviation Train three-month, 6% note payable. Interest is payable at maturity. Aviation's 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 transac select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 > Record the adjusting entry for interest. Note: Enter debits before credits Date General Journal Debit Credit December 31, 2021 Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 Record the repayment of the note at maturity. Note: Enter debits before credits. General Journal Debit Credit Date February 01, 2022 Record entry Clear entry View general journal
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