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On November 1, 2024, Rocketship Training Corporation borrows $58,000 cash from Community Savings and Loan. Rocketship Training signs a three-month, 6% note payable. Interest is
On November 1, 2024, Rocketship Training Corporation borrows $58,000 cash from Community Savings and Loan. Rocketship Training signs a three-month, 6% note payable. Interest is payable at maturity. Rocketship's year-end is December 31. Required: 1. to 3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/even select "No Journal Entry Required" in the first account field.) XX 1 Record the issuance of note. 2 Record the adjusting entry for interest. 3 Record the repayment of the note and payment of interest at maturity
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