On November 1, Bahama Cruise Lines borrows $3.1 million and issues a six-month, 9% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars, not in millions (i 5 should be entered as 5,000,000 Je. view general journal view transaction list Journal Entry Worksheet 12 Record the issuance of the note. Debit Credit Date General Journal *Enter debits before credits try
On November 1, Bahama Cruise Lines borrows $3.1 million and issues a six-month, 9% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars, not in millions (i 5 should be entered as 5,000,000 Je. view general journal view transaction list Journal Entry Worksheet 12 Record the issuance of the note. Debit Credit Date General Journal *Enter debits before credits try
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On November 1, Bahama Cruise Lines borrows $3.1 million and issues a six-month, 9% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period. (lf no entry is required for a transaction/event, select "No
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