Peralta Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10 , one year note payable (a) Prepare the journal entry to record the proceeds of the note (b) Prepare the journal entry to record accrued interest at December 31, assuming adjusting entries are made only at the end of t...

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Peralta Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note

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Peralta Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note payable. (a) Prepare the journal entry to record the proceeds of the note. (b) Prepare the journal entry to record accrued interest at December 31, assuming adjusting entries are made only at the end of the year.

Posted Date: Jun 14, 2024 07:21 AM

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Peralta Company borrows $60,000 on July 1 from the bank by signing a $60,000, 10%, one-year note

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