Prepare journal entries without explanations for the following transactions involving notes payable for Willson Company,whose fiscal year ends September 30.
Sept. 10 Received cash for a 60 -day, 12 percent, note payable. Interest is in addition to the face value.
30 Made end-of-year adjusting entry to accue interest expense for the note.
Nov. 9 Paid amount due on the note plus interest.
Definitions:
Hearing Impairment
A partial or total inability to hear; it can vary from slight to profound deafness.
Ableism
Discrimination and social prejudice against people with disabilities, favoring those who are not disabled.
Downward Drift Hypothesis
The assertion that those with mental illnesses, unable to finish their education or secure a job, tend to drift into low-income groups.
Mental Disorders
A wide range of conditions that affect mood, thinking, and behavior, often leading to distress and impairment in daily functioning.
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