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Ralney Enterprises loaned $45,000 to Small Co. on June 1, Year 1 , for one year at 9 percent Interest. Required Show the effects of
Ralney Enterprises loaned $45,000 to Small Co. on June 1, Year 1 , for one year at 9 percent Interest. Required Show the effects of the following transactions in a horlzontal statements. In the Cash Flow column, Indicate whether the Item Is an operating actlvity (OA), an Investing activity (IA), or a financing actlvity (FA). For any element not affected by the event, leave the cell olank. (Not every cell will require entry. Do not round Intermedlate calculatlons. Enter any decreases to account balances and cash outflows with a minus sign. Round your answers to the nearest whole dollar.) (1) The loan to Small Co. (2) The adjusting entry at December 31, Year 1. (3) The adjusting entry and collection of the note on June 1, Year 2
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