Prepare the general journal entries for kuhio company at may

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Reference no: EM132784276

On May 17, Kuhio Company lent $15,000 to Makaha Corporation. Makaha Corporation signed a 120-day, 5% promissory note in favor of Kuhio Company. The correct entry to record the note was made on May 17. The year-end financial statements are being prepared at June 30. At maturity, the note was dishonoured by Makaha Corporation.

REQUIRED:

problem 1: Prepare the general journal entries for Kuhio Company at May 17, June 30 and the journal entry at maturity.

Reference no: EM132784276

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