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PLEASE MAKE CORRECTIONS TO THE INCORRECT FIELDS PLEASE. THANK YOU On June 1, 2016, MicroTel Enterprises lends $72,000 to MaxiDriver Inc. The loan will be

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PLEASE MAKE CORRECTIONS TO THE INCORRECT FIELDS PLEASE. THANK YOU

On June 1, 2016, MicroTel Enterprises lends $72,000 to MaxiDriver Inc. The loan will be repaid in 60 days with interest at 9%. Assume a 360 -day year. Required: 1. Prepare the journal entry on MicroTel's books on June 1, 2016. How does this entry affect the accounting equation

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