On October 1, Eder Fabrication borrowed $55 million and issued a
nine-month promissory note. Interest was discounted at issuance at
a 13% discount rate.
Prepare the journal entry for the issuance of the note and the
appropriate adjusting entry for the note at December 31, the end of
the reporting period. (If no entry is required for a
transaction/event, select "No journal entry required" in the first
account field. Enter your answers in whole dollars.)
On October 1, Eder Fabrication borrowed $55 million and issued a nine-month promissory note. Interest was...
On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (if no entry is required for a transaction/event, select "No lournal entry required in the first account fleld. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance...
On October 1, Eder Fabrication borrowed $61 million and issued a nine-month promissory note. Interest was discounted at issuance at a 7% discount rate. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list > 1...
On October 1, Eder Fabrication borrowed $52 million and issued a nine-month promissory note. Interest was discounted at issuance at a 10% discount rate. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (If no entry is required for a transaction/event, select "No ournal entry required" in the first account field. Enter your answers in whole dollars.) We were unable to transcribe...
On October 1, Eder Fabrication borrowed $84 million and issued a nine-month, 15% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December reporting period. (If no entry is required for a transaction/event, select "No journal your answers in whole dollers.) I entry required" in the first account field. Enter View transaction list Journal entry worksheet Record the issuance of the note. Note:...
On October 1, Eder Fabrication borrowed $63 million and issued a nine-month, 10% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at December 31, the end of the reporting period. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet Record the issuance...
$79 million and issued a nine-month promissory note. Interest was discounted at issuance at On October 1, Eder Fabrication borrowed a 11% discount rate. Prepare the journal entry for the issuance of the note and the appropriate reporting period. (If no entry is required for a transaction/event, select your answers in whole dollars.) adjusting entry for the note at December 31, the end of the "No journal entry required" in the first account field. Enter View transaction list Journal entry...
Branch Corporation issued $11 million of commercial paper on March 1 on a nine-month note. Interest was discounted at issuance at a 13% discount rate. Prepare the journal entry for the issuance of the commercial paper and its repayment at maturity. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in whole dollars.) View transaction list Journal entry worksheet < 1 2 3 Record the issuance of the...
Blanton Plastics, a household plastic product manufacturer, borrowed $14 million cash on October 1, 2016, to provide working capital for year-end production. Blanton issued a four-month, 12% promissory note to L&T Bank under a prearranged short-term line of credit. Interest on the note was payable at maturity. Each firm's fiscal period is the calendar year. Required: 1. Prepare the journal entries to record (a) the issuance of the note by Blanton Plastics and (b) L&T Bank's receivable on October 1,...
Problem 13-1 Bank loan; accrued interest L013-2] Blanton Plastics, a household plastic product manufacturer, borrowed $8 million cash on October 1, 2018, to provide working capital f year-end production. Blanton issued a four-month, 6% promissory note to L&T Bank under a prearranged short-term line of credit. Interest on the note was payable at maturity. Each firm's fiscal period is the calendar year. Required 1. Prepare the journal entries to record (a) the issuance of the note by Blanton Plastics and...
Solve Journal entry please!
Required information Kn On October 1, Willette Company borrowed $120 000 cash and issued a six-month, 10% promissory note. Interest is payable at maturity. Willette has a calendar year-end and has not yet accrued any interest on the note ge Check 01 Prepare the appropriate adjusting entry dated December 31. (f no entry is required for a transaction/ event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the interest accrued...