• Wrong document? Swap it for free
  • Written by students who passed
  • Immediately available after payment
  • Read online or as PDF
  • 4.6 TrustPilot
0
Sell
Where do you study
Your language
Start selling Create your account
To add items to your wishlist, you must be logged in
Document preview thumbnail
Preview 1 out of 2 pages
Summary

Summary General Journal Entry GWShaw Bank of the Pacific 143 Reef St. Maui, HI 96732 To Wave Gear

0.0
(0 reviews)
- sold
2 pages
2024/2025 Written for academic year
Institution University Of Phoenix
Course ACC 561
Document preview thumbnail
Preview 1 out of 2 pages

General Journal Entry GWShaw Bank of the Pacific 143 Reef StGeneral Journal Entry GWShaw Bank of the Pacific 143 Reef St. Maui, HI 96732 To Wave Gear Description Total Small Business Loan $5,000.00 Thank you for your business!Answer & ExplanationTo create a general journal entry for the transaction described, we need to record the receipt of a small business loan from GWShaw Bank of the Pacific. Here's how you can structure this journal entry:Date: [Insert Date of Transaction]Account Titles and Explanation:1.Cash (or Bank Account)oDebit: $5,000.00oThis entry reflects an increase in cash or bank balance as Wave Gear receives funds from the loan.2.Loan PayableoCredit: $5,000.00oThis entry records the obligation to repay GWShaw Bank of the Pacific in future periods.Journal Entry:| Date | Account Title | Debit ($) | Credit ($) | |------------|-------------------|-----------|------------| | [Date] | Cash | 5,000.00 | | | | Loan Payable | | 5,000.00

Content preview

General Journal Entry GWShaw Bank of the Pacific 143 Reef St. Maui, HI

96732 To Wave Gear Description Total Small Business Loan $5,000.00 Thank

you for your business!




Answer & Explanation


To create a general journal entry for the transaction described, we need to record

the receipt of a small business loan from GWShaw Bank of the Pacific. Here's

how you can structure this journal entry:


Date: [Insert Date of Transaction]


Account Titles and Explanation:


1. Cash (or Bank Account)


o Debit: $5,000.00


o This entry reflects an increase in cash or bank balance as Wave

Gear receives funds from the loan.


2. Loan Payable

Document information

Uploaded on
October 6, 2024
Number of pages
2
Written in
2024/2025
Type
Summary
Report Copyright Violation
$8.49
Wrong document? Swap it for free Within 14 days of purchase and before downloading, you can choose a different document. You can simply spend the amount again.
Written by students who passed
Immediately available after payment
Read online or as PDF
Seller avatar
Reputation scores are based on the amount of documents a seller has sold for a fee and the reviews they have received for those documents. There are three levels: Bronze, Silver and Gold. The better the reputation, the more your can rely on the quality of the sellers work.
newage
4.2
(6)
Sold
25
Followers
15
Items
4723
Last sold
5 months ago

Browse related subjects

Subjects

  • general journal entry gwshaw bank of the pacific 1
  • hi 96732 to wave gear description total small bus
  • 00000 thank you for your businessanswer explan
  • we need to record the receipt of a small business
  • 0

Why students choose Stuvia

Created by fellow students, verified by reviews

Quality you can trust: written by students who passed their tests and reviewed by others who've used these notes.

Didn't get what you expected? Choose another document

No worries! You can instantly pick a different document that better fits what you're looking for.

Pay as you like, start learning right away

No subscription, no commitments. Pay the way you're used to via credit card and download your PDF document instantly.

Student with book image

“Bought, downloaded, and aced it. It really can be that simple.”

Alisha Student

Working on your references?

Create accurate citations in APA, MLA and Harvard with our free citation generator.

Learn more Create citation
Working on your references?

Frequently asked questions