roseclemmings8307 roseclemmings8307

03-09-2020
Business

contestada

Shriver Corp. borrows $25,000 from a bank and signs a two-year promissory note. What accounts will be affected by this transaction and what is the effect?

Respuesta :

06-09-2020

Answer:

The Accounts affected are :

Cash
Note Payable

Effect of this transaction is :

Increase the Assets of Cash
Increase the Liabilities

Explanation:

The entry to record this transaction is :

Cash $25,000 (debit)

Note Payable $25,000 (credit)

Being recognition of Note Payable arising due to signing of a two-year promissory note.

Answer Link

Otras preguntas

When the Constitution was first ratified, only white men of a certain age were considered citizens. Later amendments to the Constitution have affected Americans

Latoya drove 240 miles using 9 gallons of gas. At this rate, how many gallons of gas would she need to drive 216 miles?

Develop a standardized version of the recipe you found that will create 10 portions for your cooking club. Refer to the unit if you need help with this process.

How does the skin help produce Healthy Bones?

dairy entry on natural disaster

How did Sumerians practice religion?

2.010010001... is a ____________ number.Irrational or Rational

What is the measurement of angle b?

Which statement best describes Gertrude’s development between Act I and Act IV? She becomes less tolerant of young people’s behavior. She becomes more romantic

Which piece of writing contains capitalization errors?Read the sentence. Mrs. Miller told us that the Winter storm would likely delay our flight to North Dakota