ournal Entries (Note Issued, Renewed, and Paid) May 1 Purchased $5,000 worth of equipment from a supplier on account. June 1 Issued a $5,000, 30-day, 6% note in payment of the account payable. July 1 Paid $500 cash plus interest to the supplier, extending the note for 30 days from July 1. 31 Paid the note in full. Aug. 10 Issued a $3,500, 60-day, 7% note to a supplier for purchase of

ournal Entries (Note Issued, Renewed, and Paid) May 1 Purchased $5,000 worth of equipment from a supplier on account. June 1 Issued a $5,000, 30-day, 6% note in payment of the account payable. July 1 Paid $500 cash plus interest to the supplier, extending the note for 30 days from July 1. 31 Paid the note in full. Aug. 10 Issued a $3,500, 60-day, 7% note to a supplier for purchase of

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter6: Investing And Financing Activities

Section: Chapter Questions

Problem 4.9C

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