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On November 1,2024, Backpacking Training Corporation borrows $50,000 cash from Community Savings and Loan. Backpacking...

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Accounting

On November 1,2024, Backpacking Training Corporation borrows $50,000 cash from Community Savings and Loan. Backpacking
Training signs a three-month, 6% note payable. Interest is payable at maturity. Backpacking's year-end is December 31.
Required:
How will the issuance of the note on November 1,2024, affect the financial statements?
How will accrued interest on December 31,2024, affect the financial statements?
How will the payment of the note and interest at maturity affect the financial statements?
Complete this question by entering your answers in the tabs below.
How will the issuance of the note on November 1,2024, affect the financial statements?
Note: Amounts to be deducted should be indicated by a minus sign.
How will accrued interest on December 31,2024, affect the financial statements?
Note: Amounts to be deducted should be indicated by a minus sign.
How will the payment of the note and interest at maturity affect the financial statements?
Note: Amounts to be deducted should be indicated by a minus sign. (PLEASE SOLVE FOR ANY BLANKS NEEDED IN ALL 3 TABLES)
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