For the event described below, make the appropriate entries…
For the event described below, make the appropriate entries in journal entry format to record its effects on the firm. On 9/02 your company “mortgaged” one of its properties and received $350 of cash from the bank. Another way to describe this transaction is that your company took out a mortgage loan. Date Account(s) you debit (left aligned and listed first) Account(s) you credit (indented and listed last) Debit Credit 350 350 Notes on answer format: In the portion of the journal entry listing accounts: Identify accounts using the official account abbreviations (use the official account abbreviations which you can review by looking at the images at the bottom of this question. Pay attention to capitalizations!). In the portion of the journal entry listing dollar amounts: In some cases, the dollar amount will be filled in for you. When you fill in a dollar amount, do not use any spaces, commas, or symbols. If there is a place for an answer but you think it should be left blank, enter the number 0.