On January 1 of this year, Diorite borrows $100,000 with a 5%, 9-month loan. Interest is due at maturity. What entry will Diorite make on September 30 to repay the loan, assuming no ajusting entries after June 30?

On January 1 of this year, Diorite borrows $100,000 with a 5%, 9-month loan. Interest is due at maturity. What entry will Diorite make on September 30 to repay the loan, assuming no ajusting entries after June 30?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...

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