Essay
On November 15,Lohr Co.borrowed $20,000 from Convenient Bank.The loan had an interest rate of 12% and was due in 120 days.
Prepare the journal entry to record the payment of the note on Lohr's books,assuming an adjusting entry was made at December 31st ,Lohr Co.'s year end.
Correct Answer:
Verified
Correct Answer:
Verified
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