Homework Answers
| Mar 1 | Notes Receivable | 11,000 | |
| Service Revenue | 11,000 | ||
| Sep 1 | Cash | 11,495 | |
| Interest revenue (11,000*9%*6/12) | 495 | ||
| Notes Receivable | 11,000 | ||
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On March 1. Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent...
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent...
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,500. In payment for the services, Whole Grain Bakery signs a 8% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Terrell & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1. (If no entry is required for a...
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent...
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $11,000. In payment for the services, Whole Grain Bakery signs a 9% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Terrell & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1. (If no entry is required for a...
On March 1, Company A provides legal services to Company B regarding some recent food poisoning...
On March 1, Company A provides
legal services to Company B regarding some recent food poisoning
complaints. Legal services total $10,800. In payment for the
services, Company B signs a 8% note requiring the payment of the
face amount and interest to Company A on September 1. Required: For
Company A, record the acceptance of the note receivable on March 1
and the cash collection on September 1. (If no entry is required
for a particular transaction/event, select "No Journal...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace pays for those services on March 20 Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the service revenue on account. Note:...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace pays for those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the cash received on account. Note: Enter...
21 On April 1, a company provides services to one of its customers for $13,000. As...
21 On April 1, a company provides services to one of its customers for $13,000. As payment for the services, the company accepts a six- month9% note from the customer Record the acceptance of the note receivable on April 1 and the cash collection on October 1 (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations.) 7 points View transaction lit 02/11:45 Journal entry worksheet...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $10,100, terms...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $10,100, terms 2/10, n/30. Grace pays fo those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the cash received on account. Note:...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace does not pay for services until March 31, missing the 2% sales discount. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 1 Record the service revenue...
On December 1, 2021, Liang Chemical provides services to a customer for $85.000. In payment for...
On December 1, 2021, Liang Chemical provides services to a customer for $85.000. In payment for the services, the customer signs a three-year, 12% note. The face amount is due at the end of the third year, while annual interest is due each December 1 Required: 1. Record the acceptance of the note on December 1, 2021. 2. Record the interest collected on December 1 for 2022 and 2023, and the adjustment for interest revenue on December 31 for 2021....
On September 8, a company provides services on account to a customer for $1,800, terms 5/10,...
On September 8, a company provides services on account to a customer for $1,800, terms 5/10, 1/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the service revenue on account. Note:...
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,500. In payment for the services, Whole Grain Bakery signs a 8% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Terrell & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1. (If no entry is required for a...
On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $11,000. In payment for the services, Whole Grain Bakery signs a 9% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Terrell & Associates, record the acceptance of the note receivable on March 1 and the cash collection on September 1. (If no entry is required for a...
On March 1, Company A provides
legal services to Company B regarding some recent food poisoning
complaints. Legal services total $10,800. In payment for the
services, Company B signs a 8% note requiring the payment of the
face amount and interest to Company A on September 1. Required: For
Company A, record the acceptance of the note receivable on March 1
and the cash collection on September 1. (If no entry is required
for a particular transaction/event, select "No Journal...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace pays for those services on March 20 Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the service revenue on account. Note:...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace pays for those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the cash received on account. Note: Enter...
21 On April 1, a company provides services to one of its customers for $13,000. As payment for the services, the company accepts a six- month9% note from the customer Record the acceptance of the note receivable on April 1 and the cash collection on October 1 (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations.) 7 points View transaction lit 02/11:45 Journal entry worksheet...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $10,100, terms 2/10, n/30. Grace pays fo those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 2 Record the cash received on account. Note:...
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10, n/30. Grace does not pay for services until March 31, missing the 2% sales discount. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 31. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list 1 Record the service revenue...
On December 1, 2021, Liang Chemical provides services to a customer for $85.000. In payment for the services, the customer signs a three-year, 12% note. The face amount is due at the end of the third year, while annual interest is due each December 1 Required: 1. Record the acceptance of the note on December 1, 2021. 2. Record the interest collected on December 1 for 2022 and 2023, and the adjustment for interest revenue on December 31 for 2021....
On September 8, a company provides services on account to a customer for $1,800, terms 5/10, 1/30. The customer pays for those services on September 15. Record the transactions for the company when the services are provided on September 8 and when the cash is collected on September 15. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the service revenue on account. Note:...
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