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Rainey Enterprises loaned $20,000 to Small Co on June 1, Year 1, for one year...

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Accounting

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Rainey Enterprises loaned $20,000 to Small Co on June 1, Year 1, for one year at 6 percent interest. Required a. Record these general Journal entries for Rainey Enterprises: (if no entry is required for a transaction/event, select "No Journal entry required" in the first account field.) The loan to Small Co. (2) The adjusting entry at December 31, Year 1. (3) The adjusting entry and collection of the note on June 1, Year 2. View transaction lint Journal entry worksheet 1 2 4 Record entry for loan provided to small Co. for one year at 6 percent interest. Not Enter die bereits General Journal Debit Date 6/1/41 Credit Record entry Clear entry View general Journal b. Show the effects of the three above transactions in a horizontal statements model. (In the cash flow column, use the initials OA to designate operating activity, IA for investing activity, FA for financing activity and NA to indicate the element is not affected by the event. Enter any decreases to account balances with a minus sign.) Income Statement Balance Sheet Annet Limb. Equity Event Cash Note Reo Int. Roo. Ret EAY Revenue Expense Nol Income Cash Flow 61171 12/31/43 + . 0/1/72 +

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