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Journalize the following entries on the bobks of the borrower and creditor Label accordingly Assume a 360-day year is used for interest calculations Jun 1 Regis Co purchased merchandise on

Journalize the following entries on the bobks of the borrower and creditor. Label accordingly. (Assume a 360-day year is used for interest calculations.) Jun. 1 Regis Co. purchased merchandise on account from Winthrop Co., $60,000, terms n/30. Jun. 30 Regis Co. issued a 60-day, 5% note for $60,000 on account. Aug. 29 Regis Co. paid the amount due. Regis Co. (Borrower). If an amount box does not require an entry, leave it blank or enter 0. When required, round your answers to the nearest dollar Jun. 1 Jun. 30 Aug. 29 Winthrop Co. (Creditor), If an amount box does not require an entry, leave it blank or enter 0. When required, round your answers to the nearest dollar Jun. 1 Jun. 30

Aug 11 2020 View more View Less

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