Question Details

Prepare the entries on Markowitz- books to record the sale 


BE 1
On December 1, Gilman Corporation borrowed $10,000 on a 90-day, 6% note. Prepare the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note.


BE 2
During December 2011, Markowitz Publishing sold 2,500 12-month annual magazine subscriptions at a rate of $30 each. The first issues were mailed in February 2012. Prepare the entries on Markowitz- books to record the sale of the subscriptions and the mailing of the first issues.




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