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The adjusting entry and collection of the note on september

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Reference no: EM13929691

Poole Enterprises loaned $30,000 to Boyd Co. on September 1, 2013, for one year at 6 percent interest.

Required: 

a. Record these general journal entries for Poole Enterprises:
(1) The loan to Boyd Co. 
(2) The adjusting entry at December 31, 2013. 
(3) The adjusting entry and collection of the note on September 1, 2014.

1863_264-B-A-C-R (1680).png

b. Show the effects of the three above transactions in a horizontal statements model like the one shown below. 

Reference no: EM13929691

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