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  3. 2. tinkerbell company limited has a march 31, 2020

2. Tinkerbell Company Limited has a March 31, 2020 year end. During the last year...

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2. Tinkerbell Company Limited has a March 31, 2020 year end. During the last year they had the following transactions: October 1, 2019 - Tinkerbell sold goods to Pan Incorporated receiving a $40,000, three month, 6% note. January 1, 2020 - collected the Pan Incorporated note. January 1, 2020 - Tinkerbell loaned cash of $100,000 to Hook Enterprises, receiving a 6 month, 8% promissory note. - March 31, 2020 - made an adjusting entry to accrue the interest on the Hook Enterprises note. Required: Prepare the required adjusting journal entries. (Descriptions not required)

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