Warner Company borrowed $38,000 on a 12% one-year, interest bearing note dated November 1, 20X0. The annual accounting period ends on December 31. Give journal entries on the following dates:
A. November 1, 20X0
B. December 31, 20X0
C. October 31, 20X1

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The Answer of Warner Company borrowed $38,000 on a 12% one-year, interest bearing note dated November 1, 20X0. The annual accounting period ends on December 31. Give journal entries on the following dates:
A. November 1, 20X0
B. December 31, 20X0
C. October 31, 20X1

Warner Company Borrowed $38,000 on a 12% One-Year, Interest Bearing