On June 5,Scavenger Company borrowed $125,000 from BC Bank.The loan had an interest rate of 10% and was due in 90 days.Scavenger Company's fiscal year-end is December 31.Prepare the journal entry to record the payment of the note on Scavenger's books.
Correct Answer:
Verified
Q81: Buy Best Company sells personal computers for
Q82: A company sells its product subject to
Q83: On June 5,BB Company borrowed $120,000 from
Q84: On November 16,Ray Co.borrowed $40,000 from CRB
Q85: Honest Computers sells computers with a 6-month
Q86: On August 1,Droid Co.borrowed $80,000 from Simpli
Q87: On July 16,Freedom Flight gave a 120-day
Q88: During November 2021,Sunset Airlines sold out all
Q90: Elder Helpers Ltd estimates its income taxes
Q91: On June 5,BB Company borrowed $120,000 from
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents