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PLZ TYPE THE ANSWER THANKS t o Problem 11 In 20X8 and 20X9, Dorothy's Restaurant made the following transactions: 1. On July 1, 20X8, Dorothy's
PLZ TYPE THE ANSWER THANKS
t o Problem 11 In 20X8 and 20X9, Dorothy's Restaurant made the following transactions: 1. On July 1, 20X8, Dorothy's Restaurant borrowed $20,000 from the Kansas Bank at 12 percent interest for nine months. 2. On December 31, 20X8, it accrued interest on the note. 3. On April 1, 20X9, it repaid the loan to Kansas Bank, including interest Required: Journalize the transactions for this note payable. Note: Assume all adjusting entries are not done until year end. You should have 3 journals in total (1 journal for each transaction )Step by Step Solution
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