create the journal entries for myers co. on 8/2/20, myers loaned a supplier 80,000 in exchange for an 8 month, 7% note. on 11/2/20, myers borrowed 130,000 from the bank with a 6 month, 6% note on 12/31/20, myers created an AJE for the note receivable and another for note payable. show all calculations on 4/2/21, supplier paid iff their 80,000 note to myers on 5/1/21, myers paid off their 130,000 note to the bank

create the journal entries for myers co. on 8/2/20, myers loaned a supplier 80,000 in exchange for an 8 month, 7% note. on 11/2/20, myers borrowed 130,000 from the bank with a 6 month, 6% note on 12/31/20, myers created an AJE for the note receivable and another for note payable. show all calculations on 4/2/21, supplier paid iff their 80,000 note to myers on 5/1/21, myers paid off their 130,000 note to the bank

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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