Record both the may purchase entry and any june

Reference no: EM132785142

Problem 1: On May 1, Denton Chemicals purchases land of $123,000 by signing a 6-month, $128,000, zero-interest note. The company uses semiannual accounting periods. Record both the May 1 purchase entry and any June 30 adjusting entry for the note. Amounts may be rounded to the nearest dollar

Reference no: EM132785142

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