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Wilkinson Company had the following transactions involving notes payable. Aug. 1, 2020 Borrows $80,000 from City National Bank by signing a 9-month, 9% note. Dec.
Wilkinson Company had the following transactions involving notes payable. Aug. 1, 2020 Borrows $80,000 from City National Bank by signing a 9-month, 9% note. Dec. 1,2020 Borrows $90,000 from Admire State Bank by signing a 3-month, 10\% note. Dec. 31, 2020 Prepare adjusting entries. Mar. 1, 2021 Pays principal and interest to Admire State Bank. Prepare journal entries for each of the transactions shown above. (Credit account titles are automatically indented when the amount s entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date
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