Cy loans Mookie The Beagle™ Concierge $2,000 at 6% annual interest. Record the transaction as a loan payable as follows. Complete a Deposit.Select Create (+) icon > Bank DepositSelect Account: CheckingSelect Date: 01/12/2022In Add Funds to This Deposit section, select Account: + Add New > Loan Payable > Account Type: Other Current Liabilities > Detail Type: Loan Payable > Name: Loan Payable, then select Save and closeSelect Payment Method: CheckEnter Ref No.: 5002Enter Amount: 2000.00Select Save and closeWhat is the Amount of the Loan Payable? (Answer this question in the table shown below. Round your answer 2 decimal places.) View the Transaction Journal for the Deposit.From the Navigation Bar, select AccountingFrom the Chart of Accounts, select Loan Payable > View RegisterFrom the Register, select the transaction just recorded > EditFrom the bottom of the Loan Payable transaction, select More > Transaction JournalWhat are the Account and Amount Debited? (Answer this question in the table shown below. Round your answer 2 decimal places.)What are the Account and Amount Credited? (Answer this question in the table shown below. Round your answer 2 decimal places.)

A journal entry is a form of accounting entry that is used to report a business transaction in a…

Answered: Cy loans Mookie The Beagle™ Concierge…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Cy loans Mookie The Beagle™ Concierge $2,000 at 6% annual interest. Record the transaction as a loan payable as follows.

Select Create (+) icon > Bank Deposit
Select Account: Checking
Select Date: 01/12/2022
In Add Funds to This Deposit section, select Account: + Add New > Loan Payable > Account Type: Other Current Liabilities > Detail Type: Loan Payable > Name: Loan Payable, then select Save and close
Select Payment Method: Check
Enter Ref No.: 5002
Enter Amount: 2000.00
Select Save and close
What is the Amount of the Loan Payable? (Answer this question in the table shown below. Round your answer 2 decimal places.)

From the Navigation Bar, select Accounting
From the Chart of Accounts, select Loan Payable > View Register
From the Register, select the transaction just recorded > Edit
From the bottom of the Loan Payable transaction, select More > Transaction Journal
What are the Account and Amount Debited? (Answer this question in the table shown below. Round your answer 2 decimal places.)
What are the Account and Amount Credited? (Answer this question in the table shown below. Round your answer 2 decimal places.)