Assignment for Chapter 11

Assignment for Chapter 11 - 10 note Dec 31 2008 Prepares...

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ACCT 2111 Introductory Financial Accounting Assignment for Chapter 11 Bacchus Company had the following transactions involving notes payable. July 1, 2008 Borrows $200,000 from Apollo Bank by signing a 9-month, 12 % note. Nov. 1, 2008 Borrows $240,000 from Poseidon Bank by signing a 3-month,
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Unformatted text preview: 10% note. Dec. 31, 2008 Prepares adjusting entries. Feb.1, 2009 Pays principal and interest to Poseidon Bank. Apr. 1, 2009 Pays principal and interest to Apollo Bank Instructions Prepare journal entries for each of the transactions shown above....
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