Back to Study Group
C
Journal entries?
Chary-83684 - 12/27/2019, 10:44 pm

So the JE for this would be??

Notes Payable(old) 900,000
Interest Payable 54,000
Notes Payable(new) 840,000
Gain on debt restructuring 114,000

Reply
Comment
Report
1
user-21492 - 01/16/2020, 5:52 pm

What about the interest payable of $240,000 (part of the 840,000)?
Shouldnt that be recorded separate??

Comment
Report