BE13.3 (LO 1) Takemoto Corporation borrowed $60,000 on November 1, 2020, by signing a $61,350, 3-month, zero-interest-bearing note. Prepare Takemoto's November 1, 2020, entry; the December 31, 2020, annual adjusting entry; and the February 1, 2021, entry.
BE13.3 (LO 1) Takemoto Corporation borrowed $60,000 on November 1, 2020, by signing a $61,350, 3-month, zero-interest-bearing note. Prepare Takemoto's November 1, 2020, entry; the December 31, 2020, annual adjusting entry; and the February 1, 2021, entry.
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 14RE: On January 1, 2019, Boater Company issues a 20,000 non-interest-bearing, 5-year note for equipment....
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