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Brief Exercise 8-9 1. On January 10, 2017, Martinez Corp. sold merchandise on account to Tompkins...
Brief Exercise 10-10 Monty Corp. issued 1,900 5%, 9-year, $1,000 bonds dated January 1, 2022, at...
Brief Exercise 10-10 Monty Corp. issued 1,900 5%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
On March 2, Ivanhoe Company sold $863,000 of merchandise on account to Sarasota Company, terms 2/10,...
On March 2, Ivanhoe Company sold $863,000 of merchandise on
account to Sarasota Company, terms 2/10, n/30. The cost of the
merchandise sold was $577,000. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 5-04 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (a) On March 2, Ivanhoe Company sold $863,000 of merchandise on account to Sarasota Company, terms...
On March 2, Skysong, Inc. sold $929,000 of merchandise on account to Riverbed Company, terms 4/10...
On March 2, Skysong, Inc. sold $929,000 of merchandise on account to Riverbed Company, terms 4/10, n/30. The cost of the merchandise sold was $558,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record credit sale) To record cost of merchandise sold) On March 6, Riverbed Company returned $92,900...
Brief Exercise 13-2 Sunland Company borrowed $37,200 on November 1, 2017, by signing a $37,200, 9%, 3-month note. Prepar...
Brief Exercise 13-2 Sunland Company
borrowed $37,200 on November 1, 2017, by signing a $37,200, 9%,
3-month note. Prepare Sunland’s November 1, 2017, entry; the
December 31, 2017, annual adjusting entry; and the February 1,
2018, entry. (If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 13-2 Sunland Company borrowed $37,200 on November 1, 2017,...
Brief Exercise 5-4 Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s...
Brief Exercise 5-4 Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s books using a perpetual inventory system. On March 2, Whispering Winds Corp. sold $815,000 of merchandise on account to Martinez Company, terms 4/10, 1/30. The cost of the merchandise sold was $603,000. (Credl manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable 815000 Sales Commissions Expense 815000...
Brief Exercise 10-9 Nasreen Company issues $2,000,000, 10-year, 7% bonds at 97, with interest payable on...
Brief Exercise 10-9
Nasreen Company issues $2,000,000, 10-year, 7% bonds at 97, with
interest payable on July 1 and January 1.
Prepare the journal entry to record the sale of these bonds on
January 1, 2015. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
Assuming instead that the above bonds sold for 105, prepare the
journal entry to record the sale of these bonds on...
Thank you. thumbs up! Brief Exercise 5-03 Radomir Company buys merchandise on account from Lemke Company....
Thank you. thumbs up!
Brief Exercise 5-03 Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $780, and the cost of the goods is $470. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit...
Current Attempt in Progress Martinez Corp. issued 1,800 8%, 8-year $1.000 bonds dated January 1, 2022, at face value. I...
Current Attempt in Progress Martinez Corp. issued 1,800 8%, 8-year $1.000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit...
Exercise 10-9 On January 1, 2017, Forrester Company issued $351,500, 9%, 5-year bonds at face value....
Exercise 10-9 On January 1, 2017, Forrester Company issued $351,500, 9%, 5-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 (b) Prepare the journal entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
Brief Exercise 10-10 Monty Corp. issued 1,900 5%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
On March 2, Ivanhoe Company sold $863,000 of merchandise on
account to Sarasota Company, terms 2/10, n/30. The cost of the
merchandise sold was $577,000. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 5-04 a-c (Part Level Submission) Prepare the journal entries to record the following transactions on Ivanhoe Company's books using a perpetual inventory system. (a) On March 2, Ivanhoe Company sold $863,000 of merchandise on account to Sarasota Company, terms...
On March 2, Skysong, Inc. sold $929,000 of merchandise on account to Riverbed Company, terms 4/10, n/30. The cost of the merchandise sold was $558,000. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit (To record credit sale) To record cost of merchandise sold) On March 6, Riverbed Company returned $92,900...
Brief Exercise 13-2 Sunland Company
borrowed $37,200 on November 1, 2017, by signing a $37,200, 9%,
3-month note. Prepare Sunland’s November 1, 2017, entry; the
December 31, 2017, annual adjusting entry; and the February 1,
2018, entry. (If no entry is required, select "No Entry" for the
account titles and enter 0 for the amounts. Credit account titles
are automatically indented when amount is entered. Do not indent
manually.)
Brief Exercise 13-2 Sunland Company borrowed $37,200 on November 1, 2017,...
Brief Exercise 5-4 Prepare the journal entries to record the following transactions on Whispering Winds Corp.'s books using a perpetual inventory system. On March 2, Whispering Winds Corp. sold $815,000 of merchandise on account to Martinez Company, terms 4/10, 1/30. The cost of the merchandise sold was $603,000. (Credl manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Accounts Receivable 815000 Sales Commissions Expense 815000...
Brief Exercise 10-9
Nasreen Company issues $2,000,000, 10-year, 7% bonds at 97, with
interest payable on July 1 and January 1.
Prepare the journal entry to record the sale of these bonds on
January 1, 2015. (Credit account titles are
automatically indented when amount is entered. Do not indent
manually.)
Date
Account Titles and Explanation
Debit
Credit
Jan. 1
Assuming instead that the above bonds sold for 105, prepare the
journal entry to record the sale of these bonds on...
Thank you. thumbs up!
Brief Exercise 5-03 Radomir Company buys merchandise on account from Lemke Company. The selling price of the goods is $780, and the cost of the goods is $470. Both companies use perpetual inventory systems. Journalize the transaction on the books of both companies. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Debit...
Current Attempt in Progress Martinez Corp. issued 1,800 8%, 8-year $1.000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit...
Exercise 10-9 On January 1, 2017, Forrester Company issued $351,500, 9%, 5-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1 (b) Prepare the journal entry to record the accrual of interest on December 31, 2017. (Credit account titles are automatically indented when...
Brief Exercise 10-10 Indigo Corporation issued 3,000 8%, 6-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1. (a) Prepare the journal entry to record the sale of these bonds on January 1, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit Date Account Titles and Explanation Jan. 1, 2022 (b) Prepare the adjusting journal entry on December 31, 2022, to record interest expense. (Credit account...
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