Assignment Help - homework help

On august 15 crenshaw inc borrowed 80000 cash from wells


Question - On August 15, Crenshaw Inc borrowed $80,000 cash from Wells Fargo by signing a 5%, 90-day note payable.

a. Prepare Crenshaw's journal entry to record the issuance of the note payable.

b. Prepare Crenshaw's journal entry to record the payment of the note at maturity.

Solution Preview :

Prepared by a verified Expert
Accounting Basics: On august 15 crenshaw inc borrowed 80000 cash from wells
Reference No:- TGS02667452

Now Priced at $25 (50% Discount)

Recommended (90%)

Rated (4.3/5)