Business
Business, 21.10.2021 01:00, arichar

Rainey Enterprises loaned $50,000 to Small Co. on June 1, 2018, for one year at 9 percent interest. Required:
Show the effects of the following transactions in a horizontal statements.

1. The loan to Small Co.
2. The adjusting entry at December 31, 2018.
3. The adjusting entry and collection of the note on June 1, 2019.

answer
Answers: 1

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Rainey Enterprises loaned $50,000 to Small Co. on June 1, 2018, for one year at 9 percent interest....

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