Moss County Bank agrees to lend the Blossom Company $320000 on January 1. Blossom Company signs a $320000, 6%, 9 month note. The entry made by Blossom Company on January 1 to record the proceeds and issuance of the note is Cash 320000 Interest Expense 14400 Notes Payable Interest Payable 320000 14400 Cash 320000 14400

Moss County Bank agrees to lend the Blossom Company $320000 on January 1. Blossom Company signs a $320000, 6%, 9 month note. The entry made by Blossom Company on January 1 to record the proceeds and issuance of the note is Cash 320000 Interest Expense 14400 Notes Payable Interest Payable 320000 14400 Cash 320000 14400

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

ChapterD: Notes Payable And Notes Receivable

Section: Chapter Questions

Problem 3P

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