On March 1,2012,Bayonne Services Made a Loan to One of Its

question 46

Essay

On March 1,2012,Bayonne Services made a loan to one of its officers.The officer signed a 6-month note for $4,000 at 8%.Please provide the journal entry needed by Bayonne to record the note.
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Definitions:

Actualize

To make actual or real; the process of realizing or achieving one's full potential or capabilities.

Values

Fundamental beliefs or standards that guide individuals' actions and decisions, often reflecting what is important in their life.

Embrace

To accept or support a belief, change, or approach willingly and enthusiastically.

Older

Being advanced in age; typically describes someone or something that has lived or existed for a significant period of time relative to others.