Business, 03.04.2020 22:03 allenpaietonp9v8sv
South End is one of the world's most popular outdoor apparel companies. Assume that South End borrows $3.1 million from U. S. Bank and signs a note promising to pay back the $3.1 million in nine months, at which time South End also will pay any accrued interest. The interest rate on the note is 7%.
1. Prepare the journal entry South Col will record when it signs the note and receives the cash.
2. Prepare the journal entry that South Col will record when it pays off the note and any accrued interest after eight months
Answers: 3
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South End is one of the world's most popular outdoor apparel companies. Assume that South End borrow...
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