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Business, 26.11.2019 22:31 kittimau

Graves company borrows $90,000 on july 1 from the bank by signing a $90,000, 7%, 1-year note payable.

prepare the journal entries to record the proceeds of the note. (credit account titles are automatically indented when amount is entered. do not indent manually.)

july 1

prepare the journal entries to record the accrued interest at december 31, assuming adjusting entries are made only at the end of the year. (round to 0 decimal places, e. g. 62. credit account titles are automatically indented when amount is entered. do not indent manually.)

decmber 31

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Graves company borrows $90,000 on july 1 from the bank by signing a $90,000, 7%, 1-year note payable...
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