Crane Limited borrowed $88,800 from National Limited on July 1 and issued a three-month note...
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Accounting
Crane Limited borrowed $ from National Limited on July and issued a threemonth note payable at due at maturity on October Crane's year end is August and the company records adjusting entries only at that time.
a
Prepare the journal entry to record the receipt of $ cash and the issue of the note on July Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter for the amounts. List debit entry before credit entry.
Date Account Titles
Debit
Credit
July
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