On November 1, 2021, Aviation Training Corp. borrows $54,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 7% note payable. Interest is payable at maturity. Aviation's year-end is December 31. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the issuance of note. Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2021
On November 1, 2021, Aviation Training Corp. borrows $54,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 7% note payable. Interest is payable at maturity. Aviation's year-end is December 31. Required: 1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 > Record the issuance of note. Note: Enter debits before credits. Date General Journal Debit Credit November 01, 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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and the last entry I need help with is
"Record the repayment of the note at maturity."
please
Transcribed Image Text:Journal entry worksheet
3
>
Record the adjusting entry for interest.
Note: Enter debits before credits.
Transcribed Image Text:On November 1, 2021, Aviation Training Corp. borrows $54,000 cash from Community Savings and Loan. Aviation Training signs a
three-month, 7% note payable. Interest is payable at maturity. Aviation's year-end is December 31.
Required:
1.-3. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction/event,
select "No Journal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
1
2
3
>
Record the issuance of note.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
November 01, 2021
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