journal entries for accounting and note payable Lyon Co. had the following transactions; 04/08 Issued...
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journal entries for accounting and note payable Lyon Co. had the following transactions; 04/08 Issued a $6000 60 days 6% note payable in payment of acct with Bennet Company 05/15 Barrowed $40000 from Lincoln Bank, signing a 60 day note @ 9% 06/07 Paid Bennet Company the principal and interest due on the April 8 note payable 07/06 Purchase $14000 of merchandise from Bolton Company; signed a 90 day note with 10% interest 07/14 Paid the May 15 note due Lincoln Bank 10/02 Borrowed $30000 from Lincoln Bank signing a 120 day note @9% 10/04 Defaulted on the note payable to Bolton Company Record any adjusting entries for interest expense in general journal form. Lyon Company has on a December 31 year end
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