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On November 1, 2021, Aviation Training Corp. borrows $52,000 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 $52,000 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.) SH View transaction list View Journal entry works orksheet No General Journal Debit Credit 1 Date November 01, 2021 Cash Notes Payable 2 December 31, 2021 Interest Expense Interest Payable 3 February 01, 2022 Interest Expense Interest Payable Notes Payable Cash
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