Prepare the journal entries using given data

Reference no: EM132092199

Question: Recording a Note Payable Greener Pastures Corporation borrowed $1,000,000 on November 1, 2008. The note carried a 6 percent interest rate with the principal and interest payable on June 1, 2009. Prepare the journal entries and show the accounting equation effects for

(a) the note issued on November 1,

(b) the interest accrual on December 31, and

Reference no: EM132092199

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