My company received 25,000 cash from bank loan. 5, 000 will need to be paid...

70.2K

Verified Solution

Question

Accounting

My company received 25,000 cash from bank loan. 5, 000 will need to be paid back next year.
What does journal entry look like and balance sheet entry?

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students