(Answered) Question - on august 15 crenshaw inc borrowed 80000 cash

Accounting

Question - On August 15, Crenshaw Inc borrowed $80,000 cash from Wells Fargo by signing a 5%, 90-day note payable.

a. Prepare Crenshaw's journal entry to record the issuance of the note payable.

b. Prepare Crenshaw's journal entry to record the payment of the note at maturity.

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