On November 1, 2024, Dual Systems borrows $140,000 to expand operations. Dual Systems signs a six-month, 7% promissory note. Interest is payable at maturity. Dual System's year-end is December 31. Required: 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the note on November 1, 2024, Note: Enter debits before credits. Date November 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal G 110 E
On November 1, 2024, Dual Systems borrows $140,000 to expand operations. Dual Systems signs a six-month, 7% promissory note. Interest is payable at maturity. Dual System's year-end is December 31. Required: 1., 2. & 3. Record the following transactions for the note payable by Dual Systems. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations. Round your answers to the nearest dollar amount.) View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the note on November 1, 2024, Note: Enter debits before credits. Date November 01, 2024 General Journal Debit Credit Record entry Clear entry View general journal G 110 E
Chapter1: Financial Statements And Business Decisions
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