Acounting for a note receivable on june 6 lakeland bank , Finance Basics

Acounting for a note receivable on june 6 lakeland bank

Question: Accounting for a note receivable On June 6, Lakeland Bank & Trust lent $90,000 to Samantha Michael on a 60-day, 6% note.

Requirements: 1. Journalize for Lakeland the lending of the money on June 6.

2. Journalize the collection of the principal and interest at maturity. Specify the date.

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Finance Basics: Acounting for a note receivable on june 6 lakeland bank

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Finance Basics: Acounting for a note receivable on june 6 lakeland bank

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