My text book is Hospitality Industry Financial Accounting (4th edition). I am in chapter 12 -- CURRENT LIABILITIES AND PAYROLL now. There is a question asks me to "create the journal entries needed for Lakeside for November 1, 20x1; December 31,20x1; and February 1, 20x2." The scenario is the following: Lakeside Restaurant, Inc., borrowed $40,000 from Empire Savings on November 1, 20x1. The note was written for $40,000 at 12 percent interest for ninety days and was due on February 1, 20x2.
My text book is Hospitality Industry Financial Accounting (4th edition). I am in chapter 12 -- CURRENT LIABILITIES AND PAYROLL now. There is a question asks me to "create the journal entries needed for Lakeside for November 1, 20x1; December 31,20x1; and February 1, 20x2." The scenario is the following: Lakeside Restaurant, Inc., borrowed $40,000 from Empire Savings on November 1, 20x1. The note was written for $40,000 at 12 percent interest for ninety days and was due on February 1, 20x2.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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My text book is Hospitality Industry Financial Accounting (4th edition). I am in chapter 12 -- CURRENT LIABILITIES AND PAYROLL now.
There is a question asks me to "create the
The scenario is the following:
Lakeside Restaurant, Inc., borrowed $40,000 from Empire Savings on November 1, 20x1. The note was written for $40,000 at 12 percent interest for ninety days and was due on February 1, 20x2.
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