FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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On June 6, Lantana Bank & Trust lent $90,000 to Simon Peterman on a 60-day, 6% note.
Requirements
1.
2.
Journalize for Lantana the lending of the money on June 6.
Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar.
Requirement 1. Journalize for Lantana the lending of the money on June 6. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.)
Accounts and Explanation
Debit
Credit
Date
Jun. 6
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Transcribed Image Text:On June 6, Lantana Bank & Trust lent $90,000 to Simon Peterman on a 60-day, 6% note. Requirements 1. 2. Journalize for Lantana the lending of the money on June 6. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. Requirement 1. Journalize for Lantana the lending of the money on June 6. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Accounts and Explanation Debit Credit Date Jun. 6
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