The following transactions of Boogaloo Music Company occurred during 2021 and 2022: (Click the icon to...
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The following transactions of Boogaloo Music Company occurred during 2021 and 2022: (Click the icon to view the transactions.) Requirement 1. Record the transactions in Boogaloo' journal. Explanations are not required. Mar 3, 2021: Purchased a piano (inventory) for $50,000, signing a six-month, 8% note payable. (Record debits first, then credits. Exclude explanations from journal entries.) Date Mari 2021 3 Journal Entry Accounts Debit Credit May 31, 2021: Borrowed $66,000 on a 6% one-year note payable. The following transactions of Boogaloo Music Company occurred during 2021 and 2022: (Click the icon to view the transactions.) Requirement 1. Record the transactions in Boogaloo' journal. Explanations are not required. Mar 3, 2021: Purchased a piano (inventory) for $50,000, signing a six-month, 8% note payable. (Record debits first, then credits. Exclude explanations from journal entries.) Date Mari 2021 3 Journal Entry Accounts Debit Credit May 31, 2021: Borrowed $66,000 on a 6% one-year note payable.
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