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| 13 | ||||
| Debit | Credit | |||
| November 30 | Cash | 88434 | ||
| Notes Receivable—Kan | 88000 | |||
| Interest Revenue | 434 | =88000*2%*90/365 | ||
| Collected note receivable plus interest. | ||||
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Need some help
with part 2
Homework.Chapter Score: 0.38 of 1 pt 3 of 10 (3...
On JuneJune 6, SouthsideSouthside Bank & Trust lent $ 90 comma 000$90,000 to Steve StoneSteve Stone...
On JuneJune 6, SouthsideSouthside Bank & Trust lent $ 90 comma 000$90,000 to Steve StoneSteve Stone on a 6060-day, 66% note. Requirements 1. Journalize for SouthsideSouthside the lending of the money on JuneJune 6. 2. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. Requirement 1. Journalize for SouthsideSouthside the lending of the money on JuneJune 6. (Record debits first, then credits. Select the explanation on the last line of the...
On June 6, Pilgrims Bank & Trust lent $80,000 to Shari Silverthorn on a 30-day, 9%...
On June 6, Pilgrims Bank & Trust lent $80,000 to Shari Silverthorn on a 30-day, 9% note, Requirements 1. Journalize for Pilgrims the lending of the money on June 6 2 Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar Requirement 1. Journalize for Pilgrims the lending of the money on June 6 (Record debits first, then credits. Select the explanation on the Date Accounts and Explanation Debit Credit Jun 6...
Save Homework: Chapter 5 Homework Score: 0.5 of 2 pts 9 of 12 (9 complete) S5-10...
Save Homework: Chapter 5 Homework Score: 0.5 of 2 pts 9 of 12 (9 complete) S5-10 (similar to) HW Score: 57.5%, 11.5 of 20 pts Question Help On August 31, 2018, Barb Tisdale borrowed $11,000 from Green State Bank. Tisdale signed a note payable, promising to pay the bank principal plus interest on August 31, 2019. The interest rate on the note is 9%. The accounting year of Green State Bank ends on June 30, 2019. Journalize Green State Bank's...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate except with respect to the debtor's name. When entering the debtor's name, enter the name exactly as is presented in the problem data For example: Notes Receivables Johnson. For notes stated in days, use a...
On June 6, Pilgrims Bank & Trust lont 590,000 to Sue Ann Noel on a 60...
On June 6, Pilgrims Bank & Trust lont 590,000 to Sue Ann Noel on a 60 day, 6% note. Requirements 1. Journalize for Pilgrims the lending of the money on June 6. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar 4. Arabia Petroleum holds huge reserves of oil. Assume that at the end of 2017, Arabia Petroleum's cost of oil reserves totaled 596,000,000, representing 160,000,000 barrels of oil. Suppose Arabia...
S8-4 (similar to) On April 1, 2019, Wayne Company purchased inventory costing $95,000 by signing a...
S8-4 (similar to) On April 1, 2019, Wayne Company purchased inventory costing $95,000 by signing a 6% , nine -month, short-term note payable. Wayne will pay the entire note (principal and interest) on the note's maturity date. Journalize the company's (a) purchase of inventory; and (b) accnual of interest on the note payable on October 31, 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Joumalize the company's purchase of inventory Journal Entry Debit Credit Accounts...
On March 1, Krauss Corporation accepted a 60-day, 3%. $29,200 note receivable from J. Silverthorn in...
On March 1, Krauss Corporation accepted a 60-day, 3%. $29,200 note receivable from J. Silverthorn in exchange for his account receivable. Read the requirements Requirement 1. Journalize the transaction on March 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Mar. 1 Choose from any list or enter any number in the input fields and then continue to the next question Requirement 2. Journalize the...
Exercise 10-5 La Porte Company obtained a 10-year, 5%, $164,000 mortgage loan to finance the purchase...
Exercise 10-5 La Porte Company obtained a 10-year, 5%, $164,000 mortgage loan to finance the purchase of a warehouse at March 31, 2017. The terms provide for semi-annual instalment payments on September 30 and March 31 Record the obtaining of the mortgage payable on March 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Date Debit Credit Mar. 31 SHOW LIST OF ACCOUNTS LINK TO TЕXT Record the...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
We were unable to transcribe this imageWe were unable to transcribe this imageKaty Realty loaned money...
We were unable to transcribe this imageWe were unable to transcribe this imageKaty Realty loaned money and received the following notes during 2018 EEB KClick the icon to view the notes received) Read the requirements Requirement 1. Determine the maturity date and maturity value of each note (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar) Due date NoteDatePrincipal Amount Interest Rate Termm 16,000 20,000 14,000 Month/Day Year (1) Oct 1 (2) Jun. 30...
On June 6, Pilgrims Bank & Trust lent $80,000 to Shari Silverthorn on a 30-day, 9% note, Requirements 1. Journalize for Pilgrims the lending of the money on June 6 2 Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar Requirement 1. Journalize for Pilgrims the lending of the money on June 6 (Record debits first, then credits. Select the explanation on the Date Accounts and Explanation Debit Credit Jun 6...
Save Homework: Chapter 5 Homework Score: 0.5 of 2 pts 9 of 12 (9 complete) S5-10 (similar to) HW Score: 57.5%, 11.5 of 20 pts Question Help On August 31, 2018, Barb Tisdale borrowed $11,000 from Green State Bank. Tisdale signed a note payable, promising to pay the bank principal plus interest on August 31, 2019. The interest rate on the note is 9%. The accounting year of Green State Bank ends on June 30, 2019. Journalize Green State Bank's...
Requirement 3. Joumalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar. (Record debits first, then credits Select the explanation on the last line of the journal entry table Check your spelling carefully and do not abbreviate except with respect to the debtor's name. When entering the debtor's name, enter the name exactly as is presented in the problem data For example: Notes Receivables Johnson. For notes stated in days, use a...
On June 6, Pilgrims Bank & Trust lont 590,000 to Sue Ann Noel on a 60 day, 6% note. Requirements 1. Journalize for Pilgrims the lending of the money on June 6. Journalize the collection of the principal and interest at maturity. Specify the date. Round to the nearest dollar 4. Arabia Petroleum holds huge reserves of oil. Assume that at the end of 2017, Arabia Petroleum's cost of oil reserves totaled 596,000,000, representing 160,000,000 barrels of oil. Suppose Arabia...
S8-4 (similar to) On April 1, 2019, Wayne Company purchased inventory costing $95,000 by signing a 6% , nine -month, short-term note payable. Wayne will pay the entire note (principal and interest) on the note's maturity date. Journalize the company's (a) purchase of inventory; and (b) accnual of interest on the note payable on October 31, 2019. (Record debits first, then credits. Exclude explanations from any journal entries.) (a) Joumalize the company's purchase of inventory Journal Entry Debit Credit Accounts...
On March 1, Krauss Corporation accepted a 60-day, 3%. $29,200 note receivable from J. Silverthorn in exchange for his account receivable. Read the requirements Requirement 1. Journalize the transaction on March 1. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Mar. 1 Choose from any list or enter any number in the input fields and then continue to the next question Requirement 2. Journalize the...
Exercise 10-5 La Porte Company obtained a 10-year, 5%, $164,000 mortgage loan to finance the purchase of a warehouse at March 31, 2017. The terms provide for semi-annual instalment payments on September 30 and March 31 Record the obtaining of the mortgage payable on March 31, 2017. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Date Debit Credit Mar. 31 SHOW LIST OF ACCOUNTS LINK TO TЕXT Record the...
Alexander Company issued $260,000, 4%, 10-year bonds payable at 94 on January 1, 2018. 6. Journalize the issuance of the bonds payable on January 1, 2018. 7. Jounalize the payment of semiannual interest and amortization of the bond discount or premium (using the straight-line amortization method) on July 1, 2018 8. Assume the bonds payable was instead issued at 108. Journalize the issuance of the bonds payable and the payment of the first semiannual interest and amortization of the bond...
We were unable to transcribe this imageWe were unable to transcribe this imageKaty Realty loaned money and received the following notes during 2018 EEB KClick the icon to view the notes received) Read the requirements Requirement 1. Determine the maturity date and maturity value of each note (For each applicable note, compute interest using a 365-day year. Round to the nearest dollar) Due date NoteDatePrincipal Amount Interest Rate Termm 16,000 20,000 14,000 Month/Day Year (1) Oct 1 (2) Jun. 30...
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