Homework answers / question archive / On December 1, Gilman Corporation borrowed $10,000 on a 90-day, 6% note

On December 1, Gilman Corporation borrowed $10,000 on a 90-day, 6% note

Accounting

Share With

On December 1, Gilman Corporation borrowed $10,000 on a 90-day, 6% note. Prepare the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note.