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On September 1, 2024, Allied Moving Corporation borrows $120,000 cash from First National Bank. Allied signs a six-month, 7% note payable. Interest is payable
On September 1, 2024, Allied Moving Corporation borrows $120,000 cash from First National Bank. Allied signs a six-month, 7% note payable. Interest is payable at maturity. Allied's year-end is December 31. Required: 1,2.& 3. Record the following transactions for the note payable by Allied Moving Corporation. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to nearest dollar amount.) Journal entry worksheet 1 2 3 Record the issuance of notes payable. Note Enter debits before credits Date General Journal Debit Credit September 01, 2024 Record entry Clear entry View general journal
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