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On October 1, Ramos Co. signed a $90,000, 60-day discounted note at the bank. The discount rate was 6%, and the note was paid on
On October 1, Ramos Co. signed a $90,000, 60-day discounted note at the bank. The discount rate was 6%, and the note was paid on November 30. (Assume a 360-day year is used for interest calculations) a. Journalize the entries for October 1 and November 30. If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar Oct. 1 Nov. 30 b. Assume that Ramon Cotigned a 6% interest-bearing note Journalize the entries for October 1 and November 30 assuming the natn was not acontet. Ir an amount box does not require an entry leave it blank III II II III III III II III Oct 1 Nov. 30
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