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Please tell me what I am missing here. my interest payable value is wrong and the answer is not complete I need something else in
Please tell me what I am missing here. my interest payable value is wrong and the answer is not complete I need something else in the balance sheet
On November 1, 2024, Backpacking Training Corporation borrows $47,000 cash from Community Savings and Loan. Backpacking Training signs a three-month, 6% note payable. Interest is payable at maturity. Backpacking's year-end is December 31. Required: 1. How will the issuance of the note on November 1, 2024, affect the financial statements? 2. How will accrued interest on December 31,2024 , affect the financial statements? 3. How will the payment of the note and interest at maturity affect the financial statements? Answer is not complete. Complete this question by entering your answers in the tabs below. How will the payment of the note and interest at maturity affect the financial statements? Note: Amounts to be deducted should be indicated by a minus signStep by Step Solution
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