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Question 5 On August 1 Runner Ltd accepted a $27 000 note from Borges Ltd n settlement of an account rece able. The note bears
Question 5 On August 1 Runner Ltd accepted a $27 000 note from Borges Ltd n settlement of an account rece able. The note bears interest of 6 and is due in t o months on October 1 Interest on the note v as accrued on august 31 and on September 30. 0n october 1 Borpes pald the note, including the accrued interest. Prepare the journal entries required to record the above transactions. (Credit account titles are automatically indented when the amount Is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account tities and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit
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