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trying to figure year two payment by preparing the january 27, year 2 journal entry to record the payment of fargo not maturity. Year 1
trying to figure year two payment by preparing the january 27, year 2 journal entry to record the payment of fargo not maturity.
Year 1 Apri1 28 Purchased 340,250 of nerchandise on credit fron Locust, terms n/ae. May 19 Replaced the April 20 account payable to Locust with a 90day,10%,335, eee note payable along with paying $5,258 in cash. August 17 Patd the amount due on the note to locust at the maturity date. Novenber 5 Paid the anount due on the note to NBk bank at the raturity date. Novenber 28 Borrowed $42, eee cash from Fargo sank by signing a 60.day, 8x, 542,0e8 note payable. December 31 . Recorded an adjusting entry for accrued Interest on the note to fargo gank. Year 2 January 27 Patd the anount due on the note to Fango Bank at the taturity date. ( Answer is not complete. Prepare the January 27, Year 2 journal entry to record the payment of the Fargo note at maturity. Tyrell Company does NOT prepare reversing entries Step by Step Solution
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