In: Accounting
Journalize the following, assuming a 360-day year is used for interest calculations:
Apr. 30 | Issued a $72,000, 30-day, 6% note dated April 30 to Misner Co. on account. | |
May 30 | Paid Misner Co. the amount owed on the note dated April 30. |
If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar.