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Please do the Journal Entry for the activities. Exercise 5-11 Accounting for notes receivable Rainey Enterprises loaned $20,000 to Small Co. on June 1, 2018,

image text in transcribed Please do the Journal Entry for the activities.

Exercise 5-11 Accounting for notes receivable Rainey Enterprises loaned $20,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required Show the effects of the following transactions in a horizontal statements model like the one shown here. (1) (2) (3) The loan to Small Co. The adjusting entry at December 31, 2018. The adjusting entry and collection of the note on June 1, 2019

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