On October 1,2024, Ogneva Corporation loans one of its employees $43,400 and accepts a 12 -month, 8% note receivable.

Required:
Record (a) lending of $43,400 cash to an employee on October 1, 2024, (b) the adjusting entry for interest on December 31, 2024

Question

16-07-2024
Business

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On October 1,2024, Ogneva Corporation loans one of its employees $43,400 and accepts a 12 -month, 8% note receivable.

Required:
Record (a) lending of $43,400 cash to an employee on October 1, 2024, (b) the adjusting entry for interest on December 31, 2024

Sagot :

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