FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:On September 1, 2021, Allied Moving Corp. borrows $110,000 cash from First
National Bank. Allied signs a six-month, 5% note payable. Interest is payable at
maturity. Allied's year-end is December 31.
1., 2. & 3. Record the following transactions for the note payable by Allied Moving
Corp. (If no entry is required for a particular transaction/event, select "No Journal
Entry Required" in the first account field. Do not round intermediate calculations.
Round your answers to nearest dollar amount.)
View transaction list
Journal entry worksheet
<
1.
2
Record the issuance of notes payable.
Date
Sep 01, 2021
3
Note: Enter debits before credits.
Record entry
General Journal
Clear entry
Debit
Credit
View general jour
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