Journalize the following entries on the books of the borrower and creditor. Label accordingly. (Assume a 360-day year is used for interest calculations.) 
Definitions:
Standard Of Care
The degree of caution and concern an ordinary, prudent person should take in specific circumstances, often used as a benchmark in legal and medical fields to assess performance or negligence.
Common Carrier
A carrier that is licensed to provide transportation services to the public.
Strictly Liable
Being legally responsible for damages or loss, irrespective of fault or intent.
Bailment
The transfer of possession of property from one person to another under agreement that the property will be returned or otherwise disposed of according to the terms of the agreement.
Q62: The name, term, or symbol used to
Q68: On August 1, Batson Company issued a
Q82: Identify each of the following expenditures as
Q99: All long-term liabilities eventually become current liabilities.
Q113: You have just received notice that a
Q115: A building with an appraisal value of
Q129: The maximum number of shares a company
Q134: The units-of-output depreciation method provides a good
Q152: Theta Company determines that a $6,300 account
Q195: On January 1, Vermont Corporation had 40,000