Homework Answers
| Correct option is: C. | ||
| General Journal | Debit | Credit |
| Notes receivables | $ 9,300 | |
| Accounts receivable - Blossom Company | $ 9,300 | |
| (Being promissory note recorded) | ||
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Marigold Corp. receives a 59300, 3-month promissory note from Blossom Company in settement of an open...
Cheyenne Corp.receives a $16000, 9-month, 8% promissory note from Novak Corp. in settlement of an open...
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16. Rosen Company receives a $3,000, 3-month, 6% promissory note from Bay Company in settlement of...
16. Rosen Company receives a $3,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make A) Neceiving the neen accounts remonth, 6% 3,000 3,000 A) Notes Receivable Accounts Receivable Bay Company 3,000 B) Notes Receivable 3,045 Accounts Receivable-Bay Company Interest Revenue C) Notes Receivable 3,000 Interest Receivable 45 Accounts Receivable Bay Company Interest Revenue D) Notes Receivable 3,045 Accounts Receivable Bay Company 3,000 45 3,045 17. The sale of...
please help with these accounting problems! all questions please and thank you! 19. Rosen Company receives...
please help with these accounting problems! all questions please
and thank you!
19. Rosen Company receives a $9,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make upon receiving the note? A) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,135 B) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,000 Interest Revenue 135 C) Notes Receivable 9,000 Interest Receivable 135 Accounts Receivable Bay Company 9,000 Interest Revenue 135 D) Notes Receivable 9,000...
On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as...
On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as payment on account What entry should be made on July 9 to record receipt of the note? 8 024134 Multiple Choice 0 Debit Notes Receivable 59.669, credit interest Revenue $360, credit Accounts Receivable $9.300 O Debit Notes Receivable 59,672. credit Sales 59,672 0 Debit Accounts Receivable 59.300. credit Seles 59300
If you could please answer part (b) At the end of 2020, Marigold Corp. has accounts...
If you could please answer
part (b)
At the end of 2020, Marigold Corp. has accounts receivable of $2.65 million and an allowance for doubtful accounts of $115,500. On January 16, 2021, Marigold determined that its $21,300 receivable from Sunland Company will not be collected, and management has authorized its write off. On January 31, 2021, Marigold received notification that the company will be receiving $0.10 for every $1.00 of accounts receivable relating to Blossom Company The company had previously...
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On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as...
On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as payment on account. What entry should be made on July 9 to record receipt of the note? Multiple Choice Debit Notes Receivable $9,300; credit Sales $9,300. Debit Notes Receivable $9,300; credit Accounts Receivable $9,300. Debit Notes Receivable $9,669; credit Interest Revenue $369; credit Accounts Receivable $9,300. Debit Notes Receivable $9,672; credit Sales $9,672. Debit Accounts Receivable $9,300; credit Sales $9,300.
Sheffield Corp ends Riverbed industries 554000 on August 1 2032 accepting a month, 125erest it make...
Sheffield Corp ends Riverbed industries 554000 on August 1 2032 accepting a month, 125erest it make to record the collection of the note and interes a turity came> Sheed Corp accrued at December 31, 2022 year-end, what entry must Notes Recevable Interest Revenue Not Receivable Interest Receivable interesave 54000 Notes Receivable Interest Rece Interest Revenge 2160 58860
a company issued 1000 a six month promissory note at 5% interest that granted s dean...
a company issued 1000 a six month promissory note at 5% interest that granted s dean a time extension on his receivables record the journal entry to set up the note and the entry when the note is paid in 6 months
On June 1, 2017, Marigold Corp. was started with an initial investment in the company of...
On June 1, 2017, Marigold Corp. was started with an initial investment in the company of $22,460 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations: Cash $ 4,730 Notes payable $12,260 Accounts receivable 4,330 Accounts payable 830 Service revenue 7,630 Supplies expense 1,070 Supplies 2,330 Maintenance and repairs expense 670 Advertising expense 400 Utilities expense 230 Equipment...
Cheyenne Corp.receives a $16000, 9-month, 8% promissory note from Novak Corp. in settlement of an open accounts receivable. What entry will Cheyenne Corp. make upon receiving the note? Notes Receivable 16960 16000 Accounts Receivable-Novak Corp. Interest Revenue 960 Notes Receivable 16000 Accounts Receivable-Novak 16000 Corp. Notes Receivable 16960 Accounts Receivable-Novak 16960 Corp. Notes Receivable 16000 Interest Receivable 960 16000 Accounts Receivable-Novak Corp. Interest Revenue 960
16. Rosen Company receives a $3,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make A) Neceiving the neen accounts remonth, 6% 3,000 3,000 A) Notes Receivable Accounts Receivable Bay Company 3,000 B) Notes Receivable 3,045 Accounts Receivable-Bay Company Interest Revenue C) Notes Receivable 3,000 Interest Receivable 45 Accounts Receivable Bay Company Interest Revenue D) Notes Receivable 3,045 Accounts Receivable Bay Company 3,000 45 3,045 17. The sale of...
please help with these accounting problems! all questions please
and thank you!
19. Rosen Company receives a $9,000, 3-month, 6% promissory note from Bay Company in settlement of an open accounts receivable. What entry will Rosen Company make upon receiving the note? A) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,135 B) Notes Receivable 9,135 Accounts Receivable-Bay Company 9,000 Interest Revenue 135 C) Notes Receivable 9,000 Interest Receivable 135 Accounts Receivable Bay Company 9,000 Interest Revenue 135 D) Notes Receivable 9,000...
On July 9, Mifflin Company receives a $9,300, 120-day, 12% note from customer Payton Summers as payment on account What entry should be made on July 9 to record receipt of the note? 8 024134 Multiple Choice 0 Debit Notes Receivable 59.669, credit interest Revenue $360, credit Accounts Receivable $9.300 O Debit Notes Receivable 59,672. credit Sales 59,672 0 Debit Accounts Receivable 59.300. credit Seles 59300
If you could please answer
part (b)
At the end of 2020, Marigold Corp. has accounts receivable of $2.65 million and an allowance for doubtful accounts of $115,500. On January 16, 2021, Marigold determined that its $21,300 receivable from Sunland Company will not be collected, and management has authorized its write off. On January 31, 2021, Marigold received notification that the company will be receiving $0.10 for every $1.00 of accounts receivable relating to Blossom Company The company had previously...
Sheffield Corp ends Riverbed industries 554000 on August 1 2032 accepting a month, 125erest it make to record the collection of the note and interes a turity came> Sheed Corp accrued at December 31, 2022 year-end, what entry must Notes Recevable Interest Revenue Not Receivable Interest Receivable interesave 54000 Notes Receivable Interest Rece Interest Revenge 2160 58860
On June 1, 2017, Marigold Corp. was started with an initial investment in the company of $22,460 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations: Cash $ 4,730 Notes payable $12,260 Accounts receivable 4,330 Accounts payable 830 Service revenue 7,630 Supplies expense 1,070 Supplies 2,330 Maintenance and repairs expense 670 Advertising expense 400 Utilities expense 230 Equipment...
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