Entries for discounted note payable A business issued a 90-day note for $57,000 to a bank. The note was discounted at 6%. Assume a 360 days in a year. O a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

Entries for discounted note payable A business issued a 90-day note for $57,000 to a bank. The note was discounted at 6%. Assume a 360 days in a year. O a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave it blank. If necessary, round your answers to one decimal place. b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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