A business issued a 30-day 7 note for 84000 to a creditor


Question: 1- A business issued a 30-day, 7% note for $84,000 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record

(a) the issuance of the note and

(b) the payment of the note at maturity, including interest. Hide For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0".

Request for Solution File

Ask an Expert for Answer!!
Accounting Basics: A business issued a 30-day 7 note for 84000 to a creditor
Reference No:- TGS02676552

Expected delivery within 24 Hours