Below Are Two Related Transactions for Tweet Corporation

question 44

Essay

Below are two related transactions for Tweet Corporation. The annual accounting period ends December 31. For each date listed, give the required entry in journal format.
a. October 1, 20A-- Tweet Corporation Borrowed $15,000 and signed a note providing for 10% interest. The principal and interest are due in one year (on September 30, 20B).
b. December 31, 20A--end of the annual accounting period. (If no entry is required, explain why).

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