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On November 1, 2024, Dual Systems borrows $190,000 to expand operations. Dual Systems signs a six-month, 8% promissory note. Interest is payable at maturity. Dual
On November 1, 2024, Dual Systems borrows $190,000 to expand operations. Dual Systems signs a six-month, 8% promissory note. Interest is payable at maturity. Dual System's year-end is December 31. Required: 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet 1 2 3 Record the appropriate adjusting entry for the note on December 31, 2024. Note: Enter debits before credits. Date December 31, 2024 General Journal Debit Credit Record entry Clear entry View general journal > Journal entry worksheet
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