n June 1, Wildhorse Company Ltd. borrows from Scotiabank on a 6-month, $48,800, 9% note. The note matures on December 1 terest is due monthly starting July 1. Wildhorse only prepares adjusting entries at its fiscal year end. Prepare the entry on June 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles June 1 eTextbook and Media List of Accounts Debit Credit Prepare the adjusting entry on June 30, Wildhorse's fiscal year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)
n June 1, Wildhorse Company Ltd. borrows from Scotiabank on a 6-month, $48,800, 9% note. The note matures on December 1 terest is due monthly starting July 1. Wildhorse only prepares adjusting entries at its fiscal year end. Prepare the entry on June 1. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.) Date Account Titles June 1 eTextbook and Media List of Accounts Debit Credit Prepare the adjusting entry on June 30, Wildhorse's fiscal year end. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List debit entry before credit entry.)
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 5P
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