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: $

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter9: Current Liabilities, Contingencies, And The Time Value Of Money

Section: Chapter Questions

Problem 9.6AP

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