$10,000 cash advance to partnership on 1/2/2005 and adjusting entry for the note payable on 1/31/2005
1/2/2005 Cash 10,000
Notes Payable 10,000
1/31/2005 Notes Payable 10,000
Interest expense 100
Cash 10,100
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$10,000 cash advance to partnership on 1/2/2005 and adjusting entry for the note payable on 1/31/2005
1/2/2005 Cash 10,000
Notes Payable 10,000
1/31/2005 Notes Payable 10,000
Interest expense 100
Cash 10,100
Based on limited explantion, entires appear correct.
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