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Midshipmen Company borrows $10.500 from Falcon Company on July 1, 2018. Midshipmen repays the amount borrowed
and pays interest of 12% (19/month) on June 30, 2019
255
1 & 2. Record the necessary entries in the Journal Entry Worksheet for Falcon Company below. If no entry is required for a particular
transaction/event, select "No journal entry required in the first account field)
View transaction list
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Journal entry worksheet
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Record the lending for Falcon on July 1, 2018
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