Tuesday
March 28, 2017

Post a New Question

Posted by on .

On June 1, Coble Company Ltd. borrows $64,000 from First Bank on a 6-month, $64,000, 9% note. The note matures on December 1. (List multiple debit/credit entries from largest to smallest.)

a) Prepare the entry on June 1.

b) Prepare the adjusting entry on June 30.

c) Prepare the entry at maturity (December 1),assuming monthly adjusting entries have been made through November 30.

d) What was the total financing cost (interest expense)?

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question