On November 1, Yung Corp. borrowed $50,000 on a six-month note from its bank. Interest at 8% will be paid when the note is due. Record any journal entries necessary to record these transactions. Yung's fiscal year is the calendar year.

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The Answer of On November 1, Yung Corp. borrowed $50,000 on a six-month note from its bank. Interest at 8% will be paid when the note is due. Record any journal entries necessary to record these transactions. Yung's fiscal year is the calendar year.