What is the journal entry for the end of a year

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Reference no: EM131219989

Al borrows $40,000 from the bank. This loan is in the form of a note that is due in two years (7/31/16) and bears interest at the rate of 6% per year. All of the interest and principal is due at the end of the note period.

What is the journal entry for the end of a year? 12/31.

Reference no: EM131219989

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What is the journal entry for the end of a year : Al borrows $40,000 from the bank. This loan is in the form of a note that is due in two years (7/31/16) and bears interest at the rate of 6% per year. All of the interest and principal is due at the end of the note period. What is the journal entry f..

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