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Business, 23.04.2020 04:13 astultz309459
On November 1, 2018, Aviation Training Corp. borrows $46,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 6% note payable. Interest is payable at maturity. Aviation’s year-end is December 31.Required: Record the necessary entries in the Journal Entry. i. Record the issuance of note. ii. Record the adjustment for interest. iii. Record the repayment of the note at maturity.
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On November 1, 2018, Aviation Training Corp. borrows $46,000 cash from Community Savings and Loan. A...
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