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  3. the company borrowed using a note payable from the

The company borrowed using a note payable from the bank for $30,000 on January 1...

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Accounting

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The company borrowed using a note payable from the bank for $30,000 on January 1 of the current vear, due with all interest on June 30 of the following year. The note payable requires 10% interest Debit and credit the accounts affected. Dec. 31 Ensure the equation still balances and debits - credits. Assets Liabilities Stockholders' Equity (h) The company calculated its income taxes as $26.110 for the current year ended December 31. Debit and credit the accounts affected. Dec. 31 Ensure the equation still balances and debits -credits. Assets Liabilities Stockholders' Equity () On December 15 of the current year, the company declared a $750 dividend, payable January 15 of the following year. Debit and credit the accounts affected. Dec. 31 Ensure the equation still balances and debits credits Assets Liabilities Stockholders' Equity Post the adjusting entries above to the T-accounts on the following page

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