Journalize collection of principal and interest at maturity

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Reference no: EM131819397

Question: Accounting for a note receivable On June 6, Lakeland Bank & Trust lent $90,000 to Samantha Michael on a 60-day, 6% note.

Requirements: 1. Journalize for Lakeland the lending of the money on June 6.

2. Journalize the collection of the principal and interest at maturity. Specify the date.

Reference no: EM131819397

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Journalize collection of principal and interest at maturity : Accounting for a note receivable On June 6, Lakeland Bank & Trust lent $90,000 to Samantha Michael on a 60-day, 6% note.

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