On November 1, 2023, Alan Company signed a 120-day, 10% note payable, with a face...
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Accounting
On November 1, 2023, Alan Company signed a 120-day, 10% note payable, with a face value of $63,000. Alan made a December 31 year-end accrual for interest earned. (Use 360 days a year.) 2a. Write the November 1st journal entry. How did the entry impact the 2023 financial statements? 2b. Write the December 31st journal entry. How did the entry impact the 2023 financial statements? 2c. Write the final journal entry in 2024 on the correct date. How did the entry impact the 2024 financial statements
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