On November 1, Bahama Crulse Lines borrows $2.1 millon 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 perlod. (If no entry Is requlred for a particular transaction/event, select "No Journal Entry Requlred" In the first account fleld. Enter your answers In dollars, not In mllons (I.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits. Date General Journal Debit Credit November 01
On November 1, Bahama Crulse Lines borrows $2.1 millon 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 perlod. (If no entry Is requlred for a particular transaction/event, select "No Journal Entry Requlred" In the first account fleld. Enter your answers In dollars, not In mllons (I.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet Record the issuance of the note. Note: Enter debits before credits. Date General Journal Debit Credit November 01
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![On November 1, Bahama Cruise Lines borrows $21 millon 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 perlod.
(If no entry Is requlred for a particular transactlon/event, select "No Journal Entry Required" In the first account fleld. Enter your
answers In dollars, not In mlllons (I.e. 5 should be entered as 5,000,000).)
View transaction list
Journal entry worksheet
1
Record the issuance of the note.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
November 01
Record entry
Clear entry
View general jourmal](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F07f215eb-61cc-4692-8b31-adee2e22970e%2F9af1ea38-445e-469f-943c-1240f048b354%2Fexshqs8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On November 1, Bahama Cruise Lines borrows $21 millon 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 perlod.
(If no entry Is requlred for a particular transactlon/event, select "No Journal Entry Required" In the first account fleld. Enter your
answers In dollars, not In mlllons (I.e. 5 should be entered as 5,000,000).)
View transaction list
Journal entry worksheet
1
Record the issuance of the note.
Note: Enter debits before credits.
Date
General Journal
Debit
Credit
November 01
Record entry
Clear entry
View general jourmal
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