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On November 1. Bahama Cruise Lines borrows $2.6 million and issues a six-month. 6% note payable. Interest is payable at maturity. Record the issuance of
On November 1. Bahama Cruise Lines borrows $2.6 million and issues a six-month. 6% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" In the first account field. Enter your answers in dollars, not in millions (l.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits General Journal Debit Credit Date November 01 Record entry Clear entry View general journal During December, Far West Services makes a $4.600 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.5%. (Note: the sales tax amount is in addition to the credit sale amount.) Record sales and sales tax payable. (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 Record the advance collection in ticket sales. Note: Enter debits before credits. Transaction General Journal Debit Credit Prev 7 of 7 Next
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