In Questions 1, 2, 3, prepare the journal entries for the following transactions. (1) December...
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Accounting
In Questions 1, 2, 3, prepare the journal entries for the following transactions.
(1)
December 1, 2011 Your company, RDV Sports borrowed $40,000 from FirstBank. A 60-day, 12% note.
(2)
December 31, 2011 Prepare adjusting entry for the accrued interest.
(3)
Record the payment of the note.
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