December 1, 2014, the Macantile Investment Company borrowed KSHS.500,000 from Bank of
Baroda and signed a promissory note. Interest at 12% is payable monthly. The company assigned
WRITE THIS ESSAY FOR ME
Tell us about your assignment and we will find the best writer for your paper.
Get Help Now!KSHS.620,000 of its receivables as collateral for the loan. Bank of Baroda charges a finance fee
equal to 1.5% of the accounts receivable assigned.
Required:
Show the relevant journal entries as pertains cash difference, liability and finance expense.
Introducing our Online Essay Writing Services Agency, where you can confidently place orders for a wide range of academic assignments. Our reputable homework writing company specializes in crafting essays, term papers, research papers, capstone projects, movie reviews, presentations, annotated bibliographies, reaction papers, research proposals, discussions, and various other assignments. Rest assured, our content is guaranteed to be 100% original, as every piece is meticulously written from scratch. Say goodbye to concerns about plagiarism and trust us to deliver authentic and high-quality work.
WRITE MY ESSAY NOW
