On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash during the slo
On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash during the slow season of the year. The interest rate on the note was 8%. At the time the note was due, the amount of interest owed was $480.
SHOW LIST OF ACCOUNTS
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SHOW LIST OF ACCOUNTS
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Date
Account Titles and Explanation
Debit
Credit
May 15
Sept. 15
On May 15, Wild Quest Clothiers borrowed some money on a 4-month note to provide cash during the slow season of the year. The interest rate on the note was 8%. At the time the note was due, the amount of interest owed was $480.
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manish jayant
22-Apr-2020