- Q2 On June 1 2020 Abc Company Signed A 25 000 120 Day 6 Note Payable To Cover A Past Due Account Payable A What 1 (25.73 KiB) Viewed 189 times
Q2- On June 1, 2020, ABC Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. a. What
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Q2- On June 1, 2020, ABC Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. a. What
Q2- On June 1, 2020, ABC Company signed a $25,000, 120-day, 6% note payable to cover a past due account payable. a. What is the total amount of interest to be paid on this note? b. Prepare ABC Company's general journal entry to record the issuance of the note payable c. Prepare ABC Company's general journal entry to record the payment of the note on September 29, 2020 (2 marks).