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On November 30,ABC corporation borrows $66,000 from the bank by signing a 60 day, 6% note agreement. Round values to 2 decimal places and use
On November 30,ABC corporation borrows $66,000 from the bank by signing a 60 day, 6% note agreement. Round values to 2 decimal places and use the Account List - click to pop open to help you with your journal entries. a) Calculate the maturity date of the note. b) Calculate the interest that should be accured on this note at December 31st and write the journal entry to record the accrual. c) Write the journal entry required on the maturity date of the note assuming ABC corporation pays as agreed
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