Question 4 of 34 -75 In an effort to raise some cash for operating activities, Pronghorn Corporation approached Culver Ltd. and asked to borrow $115,000 (the Presidents of Pronghorn and Culver were cousins). Culver agreed to loan $115,000 to Pronghorn for three months at 6% interest. On August 1, Pronghorn signed a promissory note for the amount, promising to repay the funds plus interest on November 1 Prepare all the journal entries on the books of Culver to record the note receivable, assuming that Culver's fiscal year-end is September 30 and repayment of the note receivable plus interest occurs on November 1. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts. Record Journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record the note) (To record interest through year end) (To record interest through October) Question 4 of 34 -75 (To record the note) (To record interest through year end) (To record interest through October) (To record repayment of the note) List of Accounts Save for Later Attempts: 0 of 1 used Submit Answer Type here to search