Question
On October 1, 2019, ABC Company borrowed $100,000 cash on a 6-month note payable. The annual interest rate is 12 percent. The principal and all
On October 1, 2019, ABC Company borrowed $100,000 cash on a 6-month note payable. The annual interest rate is 12 percent. The principal and all the interests were paid by ABC at the maturity date, March 31, 2020. What is the journal entry to be recorded for ABC on December 31, 2019?
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Principles Of Financial Auditing
Authors: Athmane Mokhbi
1st Edition
B09LGTJJFG, 979-8763532265
