Take me to the text On October 1, 2020, Cervera Company borrowed $325,000 from the local bank. The note is payable in equal installments over 5 years. Do not enter dollar signs or commas in the input boxes. a) Write the journal entry to record the note payable. Date Account Title and Explanation Debit Credit Oct 1 Record a note payable from the bank b) How much of the note payable would be considered current on October 1, 2020? Round your answer to the nearest whole dollar. Current Portion: $
Take me to the text On October 1, 2020, Cervera Company borrowed $325,000 from the local bank. The note is payable in equal installments over 5 years. Do not enter dollar signs or commas in the input boxes. a) Write the journal entry to record the note payable. Date Account Title and Explanation Debit Credit Oct 1 Record a note payable from the bank b) How much of the note payable would be considered current on October 1, 2020? Round your answer to the nearest whole dollar. Current Portion: $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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