Kelly Jones and Tami Crawford borrowed $12.000 on a 7-month, 6% note from Gem State Bank to open their business, Cullumber's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. (a) Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation June 11 Debit Credit

Kelly Jones and Tami Crawford borrowed $12.000 on a 7-month, 6% note from Gem State Bank to open their business, Cullumber's Coffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023. (a) Prepare the entry to record the receipt of the funds from the loan. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation June 11 Debit Credit

Name: Kelly Jones and Tami Crawford borrowed $12,000 on a 7-month, 6% note
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Description: Kelly Jones and Tami Crawford borrowed $12,000 on a 7-month, 6% note from Gem State Bank to open their business, Cullumber'sCoffee House. The money was borrowed on June 1, 2022, and the note matures January 1, 2023.(a)Prepare the entry to record the

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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