Post a New Question


posted by .

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)?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

More Related Questions

Post a New Question