On April 1, Bridgeport Corporation borrows $168,000 from Rigor Bank by signing an 8-month, 9%, bank loan. Interest is due at maturity. Prepare the entries listed below associated with the bank loan on the books of Bridgeport Corporation. Its year end is June 30. (a) The entry on April 1 when the loan was received. (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. List debit entry before credit entry.) Account Titles and Explanation Date June 30 Debit Credit

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Chapter1: Financial Statements And Business Decisions
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On April 1, Bridgeport Corporation borrows $168,000 from Rigor Bank by signing an 8-month, 9%, bank loan. Interest is due at
maturity.
Prepare the entries listed below associated with the bank loan on the books of Bridgeport Corporation. Its year end is June 30.
(a)
The entry on April 1 when the loan was received. (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. List
debit entry before credit entry.)
Date
June 30
Account Titles and Explanation
Debit
Credit
Transcribed Image Text:On April 1, Bridgeport Corporation borrows $168,000 from Rigor Bank by signing an 8-month, 9%, bank loan. Interest is due at maturity. Prepare the entries listed below associated with the bank loan on the books of Bridgeport Corporation. Its year end is June 30. (a) The entry on April 1 when the loan was received. (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. List debit entry before credit entry.) Date June 30 Account Titles and Explanation Debit Credit
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