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Journal entry?
on january 1 2005 company a agrees to lend $10000 to company b if company b signs a $12000 10% 2 month note.
what would be the correct journal entry for Company B on January 1, 2005?
1 Answer
- .:I*dimples!*I:.Lv 47 years agoFavorite Answer
im in accounting right now this may not be correct But i know it should look something like this. try googling the answer
Jan/1
prepaid service DR :10000
........... Interest payable : CR
and i suggest you put your question on the financing part of yahoo answers
