ABC Co. loans $60,000 cash to xYZ Co. on March 1. The loan plus interest of 6% is due in 9 months. Identify the accounts as debits or credits such as

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ABC Co. loans $60,000 cash to xYZ Co. on March 1. The loan plus interest of 6% is due in 9 months. Identify the accounts as debits or credits such as< Debit A/R 5 Credit Sales 5 a. Record the journal entry for the loan made at March 1. b. Record the journal entry for the receipt of the payment for the principal and interest earned at maturity.  solutionspile.com

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