Below are two related transactions for Golden Corporation. The annual accounting period ends December 31. The books are adjusted only at year-end.
A. October 1, 2014: Golden Corporation borrowed $100,000 and signed a note providing for 8% interest. The principal and interest are due in one year on September 30, 2015.
B. December 31, 2014: End of the annual accounting period.
Required:
Prepare the required journal entry at October 31 and December 31, 2014 for each of the above items.

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The Answer of Below are two related transactions for Golden Corporation. The annual accounting period ends December 31. The books are adjusted only at year-end.
A. October 1, 2014: Golden Corporation borrowed $100,000 and signed a note providing for 8% interest. The principal and interest are due in one year on September 30, 2015.
B. December 31, 2014: End of the annual accounting period.
Required:
Prepare the required journal entry at October 31 and December 31, 2014 for each of the above items.

Below Are Two Related Transactions for Golden Corporation