Question
Prepare journal entries for each of the following 3 transactions by fillling in the cells: 1. On May 1, 2015 Alf Corp borrowed money from
Prepare journal entries for each of the following 3 transactions by fillling in the cells:
1. On May 1, 2015 Alf Corp borrowed money from PNC Bank by signing a 3 month, 12% note payable for $10,000
2 Alf Corp prepares quarterly financial statements. Record Alf Corp's June 30, 2015 journal entry to accrue interest
3. Record Alf Corp's payment of the note and interest on August 1, 2015
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Audits
Authors: Arthur E Cutforth
1st Edition
1017097445, 978-1017097443
