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On October 1, 2020, management borrowed $ 500,000 on a nine-month, three-percent. On July 1, 2021, management repaid the
Posted: Sun Jul 03, 2022 1:08 pm
by answerhappygod
- On October 1 2020 Management Borrowed 500 000 On A Nine Month Three Percent On July 1 2021 Management Repaid The 1 (64.9 KiB) Viewed 18 times
On October 1, 2020, management borrowed $ 500,000 on a nine-month, three-percent. On July 1, 2021, management repaid the note and accrued interest. Required: Prepare the adjusting journal entry on December 31, 2020, assuming the
company's year-end is December 31. Required: Prepare the journal entry on July 1, 2021, assuming the
company's year-end is December 31.