Whispering Company borrowed $30,000 on November 1, 2025, by signing a $30,000, 8%, 3-month note. Prepare...
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Whispering Company borrowed $30,000 on November 1, 2025, by signing a $30,000, 8%, 3-month note. Prepare Whispering's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries) Date Account Titles and Explanation 11/1/25 Cash Notes Payable 12/31/25 Interest Expense Notes Payable Debit 30000 4800 2/1/26 Interest Expense 2400 Notes Payable Notes Payable Cash eTextbook and Media eTextbook Credit Assistance Used 30000 4800 2400 Whispering Company borrowed $30,000 on November 1, 2025, by signing a $30,000, 8%, 3-month note. Prepare Whispering's November 1, 2025, entry; the December 31, 2025, annual adjusting entry; and the February 1, 2026, entry. (If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries) Date Account Titles and Explanation 11/1/25 Cash Notes Payable 12/31/25 Interest Expense Notes Payable Debit 30000 4800 2/1/26 Interest Expense 2400 Notes Payable Notes Payable Cash eTextbook and Media eTextbook Credit Assistance Used 30000 4800 2400
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