On June 1, Bonita Company borrows $106,500 from First Bank on a 6-month, $106,500, 8% note. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Show List of Accounts Link to Text Prepare the adjusting entry on June 30.
On June 1, Bonita Company borrows $106,500 from First Bank on a 6-month, $106,500, 8% note. Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit June 1 Show List of Accounts Link to Text Prepare the adjusting entry on June 30.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On June 1, Bonita Company borrows $106,500 from First Bank on a 6-month, $106,500, 8% note.
Prepare the entry on June 1. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Date
Account Titles and Explanation
Debit
Credit
June 1
Show List of Accounts
Link to Text
Prepare the
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