Problem #1: Assume Johannsen Company borrows $100,000 from Evans Bank on September 1, 2019, signing a 6%, sİx- month note for the amount borrowed plus accrued interest due six months later on March 1, 2020. Required: Make all the required entries regarding this loan. Account Dr. Cr. 09/01/19

Problem #1: Assume Johannsen Company borrows $100,000 from Evans Bank on September 1, 2019, signing a 6%, sİx- month note for the amount borrowed plus accrued interest due six months later on March 1, 2020. Required: Make all the required entries regarding this loan. Account Dr. Cr. 09/01/19

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

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 2P: Notes Payable and Effective Interest On November 1,2019, Edwin Inc. borrowed cash and signed a...

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Problem #1:
Assume Johannsen Company borrows $100,000 from Evans Bank on September 1, 2019, signing a 6%, six-
month note for the amount borrowed plus accrued interest due six months later on March 1, 2020.
Required: Make all the required entries regarding this loan.
Account
Dr.
Cr.
09/01/19
Account
Dr.
Cr.
12/31/19
Calculation
Асcount
Dr.
Cr.
03/01/20
Calculation

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