On December 1, 2023, Old World Deli signed a $300,000,6% annual interest rate, six month...
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Accounting
On December 1, 2023, Old World Deli signed a $300,000,6% annual interest rate, six month note payable with the amount borrowed plus accrued interest due six months later on June 1, 2024. Old World Deli is on an annual accounting period and records the appropriate adjusting entry for the note on December 31, 2023. What will the general journal entry Old World Deli will record on June 1,2024 to record the payment of the note plus interest
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