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Rainey Enterprises loaned $40,000 to Small Co. on June 1, 2016, for one year at 5 percent interest Required a. Record these general journal entries
Rainey Enterprises loaned $40,000 to Small Co. on June 1, 2016, for one year at 5 percent interest Required a. Record these general journal entries for Rainey Enterprises: (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field. Round your final answers to the nearest whole dollar.) (1) The loan to Small Co (2) The adjusting entry at December 31, 2016 (3) The adjusting entry and collection of the note on June 1, 2017 view transaction listview general journal Journal Entry Worksheet 1230 Record entry for loan provided to small Co. for one year at 5 percent interest Date General Journal Debit Credit 06/01/2016 *Enter debits before credits done clear entry record entry
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