Flint Corporation borrowed $94,000 on November 1, 2025, by signing a $96,115, 3-month, zero-interest-bearing note. Prepare Flint's November 1, 2025, entry, the December 31, 2025, annual adjusting entry, and the February 1, 2026, entry. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries)

Flint Corporation borrowed $94,000 on November 1, 2025, by signing a $96,115, 3-month, zero-interest-bearing note. Prepare Flint's November 1, 2025, entry, the December 31, 2025, annual adjusting entry, and the February 1, 2026, entry. (If no entry is required, select "No Entry for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. List all debit entries before credit entries)

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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