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pls and thank you i rate On November 1, Bahama Cruise Lines borrows $12 million and issues a six-month, 7% note payable. Interest is payable
pls and thank you i rate
On November 1, Bahama Cruise Lines borrows $12 million and issues a six-month, 7% note payable. Interest is payable at maturity Determine the financial statement effects of (1) the kssuance of the fote and (2) the adjusting entry for interest owed by December 31. the end of the reporting period Ciomplete this question by sintmriny your answers in the tabs bolow. Determine the financial statement effects of the itsuance of the note. (tinter your anwweys, in dollars, not inillions, For nacample, 45.5 milion th bes ontered as S,500,000.) Complete this question by entering your answers in the tabs below. Determine the financial statement effects of the adjusting entry for interest owed by Decernber 31 , the end of the reporting period. (Amot be deducted should be entered with minus sign. Enter your answers in dollars, not millions. For examplo, $5.5 million should be entered a 5,500,000 Step by Step Solution
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