Exercise 7-11A (Algo) Accounting for notes receivable LO 7-5 Rainey Enterprises loaned $35,000...
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Accounting
Exercise A Algo Accounting for notes receivable LO
Rainey Enterprises loaned $ to Small Company on June Year for one year at percent interest.
Required:
Show the effects of the following transactions in a horizontal statements model.
Note: Enter any decreases to account balances and cash outflows with a minus sign. For changes on the Statement of Cash Flows, indicate whether the item is an operating activity OA investing activity IA or financing activity FA Not all cells require input. Do not round intermediate calculations. Round your final answers to the nearest whole dollar.
The loan to Small Company
The adjustment at December Year
The adiustment and collection of the note on June Year
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