Rainey Enterprises loaned $20,000 to Small Co. on June 1, 2018, for one year at...
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Rainey Enterprises loaned $20,000 to Small Co. on June 1, 2018, for one year at 6 percent interest. Required a.Record these general journal entries or Rainey Enterprises: (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) (1) The loan to Small Co. 2) The adjusting entry at December 31, 2018 (3) The adjusting entry and collection of the note on June 1,2017. Vew transaction at Vlew Journal entry worksheet No Date General Journal Debit Credit 106/01/2018 Accounts recaivable 30,000 Cash 30,000 212/31/2016 Interest recaivable Accounts receivable 1,050 306/01/2017 1050 408/01/2017 Interest revenue 31
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