Homework Answers
a) Table
| Total through maturity | |
| Principal | 9500 |
| rate | 8% |
| Time | 180/360 |
| Interest | 380 |
Journal entry
| date | account and explanation | debit | Credit |
| Mar 21 | Notes receivable | 9500 | |
| Account receivable | 9500 | ||
| Sep 17 | Account receivable | 9880 | |
| Notes receivable | 9500 | ||
| Interest revenue | 380 | ||
| Dec 31 | Allowance for doubtful accounts | 9880 | |
| Account receivable | 9880 | ||
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Following are transactions for Ridge Company. Mar. 21 Accepted a $9,500, 180-day, 8t note from Tamara...
Following are selected transactions for Ridge Company Mar. 21 Accepted a $9,500, 180-day, 8x note dated...
Following are selected transactions for Ridge Company Mar. 21 Accepted a $9,500, 180-day, 8x note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare...
Following are transactions for Ridge Company Mar. 21 Accepted a $4,300, 180-day, 12% note from Tamara...
Following are transactions for Ridge Company Mar. 21 Accepted a $4,300, 180-day, 12% note from Tamara Jackson in granting a tine extension on her past due account receivable. Sept. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (Do not round intermediate calculations....
Following are selected transactions for Ridge Company. Mar. 21 Accepted a $5,400, 180-day, 11t note dated...
Following are selected transactions for Ridge Company. Mar. 21 Accepted a $5,400, 180-day, 11t note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts Complete the table to calculate the interest amounts at September 17 and use the calculated value...
Following are selected transactions for Ridge Company Mar. 21 Accepted a $13,700, 180-day, 12% note dated...
Following are selected transactions for Ridge Company Mar. 21 Accepted a $13,700, 180-day, 12% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value...
help me solve this please. thank you Following are transactions for Ridge Company. Mar. 21 Accepted...
help me solve this please. thank you
Following are transactions for Ridge Company. Mar. 21 Accepted a $12,800, 180-day, 78 note from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal...
Following are selected transactions for Ridge Company, Mar. 21 Accepted a $15,400, 180-day, 10% note dated...
Following are selected transactions for Ridge Company, Mar. 21 Accepted a $15,400, 180-day, 10% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value...
Following are transactions for Ridge Company. Mar. 21 Accepted a $15, 100, 180-day, 8% note from...
Following are transactions for Ridge Company. Mar. 21 Accepted a $15, 100, 180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson' s account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (Do not round intermediate...
Following are selected transactions for Ridge Company Mar. 21 Accepted a S16, 000, 180-day, 8% note...
Following are selected transactions for Ridge Company Mar. 21 Accepted a S16, 000, 180-day, 8% note dated March 21 from Tamara Jackson in granting a Sept. 17 Jackson dishonored her note when it is presented for payment. time extension on her past-due account receivable Dec. 31 After exhausting all legal means of collectio n, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts Complete the table to calculate the interest amounts at September 17 and use the...
Following are transactions for Vitalo Company Nov. 1 Accepted a $5., 180-day, 8X note from Kelly...
Following are transactions for Vitalo Company Nov. 1 Accepted a $5., 180-day, 8X note from Kelly white in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year and accounts for the accrued interest earned on the white note. Apr 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 3151 and April 30th and use those calculated values to prepare your journal entries. (Do not round...
Dec. 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable
Following are transactions of Danica Company. Dec. 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note Exercise 9-13 Notes receivable transactions LO P4 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13 . Mar. 3 Accepted a $ 5,000,10%, 90 -day note in granting a time extension on the past-due account receivable of Tomas Company.17...
Following are selected transactions for Ridge Company Mar. 21 Accepted a $9,500, 180-day, 8x note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare...
Following are transactions for Ridge Company Mar. 21 Accepted a $4,300, 180-day, 12% note from Tamara Jackson in granting a tine extension on her past due account receivable. Sept. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (Do not round intermediate calculations....
Following are selected transactions for Ridge Company. Mar. 21 Accepted a $5,400, 180-day, 11t note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts Complete the table to calculate the interest amounts at September 17 and use the calculated value...
Following are selected transactions for Ridge Company Mar. 21 Accepted a $13,700, 180-day, 12% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value...
help me solve this please. thank you
Following are transactions for Ridge Company. Mar. 21 Accepted a $12,800, 180-day, 78 note from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal...
Following are selected transactions for Ridge Company, Mar. 21 Accepted a $15,400, 180-day, 10% note dated March 21 from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note when it is presented for payment. Dec. 31 After exhausting all legal means of collection, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value...
Following are transactions for Ridge Company. Mar. 21 Accepted a $15, 100, 180-day, 8% note from Tamara Jackson in granting a time extension on her past-due account receivable. Sept. 17 Jackson dishonored her note. Dec. 31 After trying several times to collect, Ridge Company wrote off Jackson' s account against the Allowance for Doubtful Accounts. Complete the table to calculate the interest amounts at September 17 and use the calculated value to prepare your journal entries. (Do not round intermediate...
Following are selected transactions for Ridge Company Mar. 21 Accepted a S16, 000, 180-day, 8% note dated March 21 from Tamara Jackson in granting a Sept. 17 Jackson dishonored her note when it is presented for payment. time extension on her past-due account receivable Dec. 31 After exhausting all legal means of collectio n, Ridge Company wrote off Jackson's account against the Allowance for Doubtful Accounts Complete the table to calculate the interest amounts at September 17 and use the...
Following are transactions for Vitalo Company Nov. 1 Accepted a $5., 180-day, 8X note from Kelly white in granting a time extension on her past-due account receivable. Dec. 31 Adjusted the year and accounts for the accrued interest earned on the white note. Apr 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 3151 and April 30th and use those calculated values to prepare your journal entries. (Do not round...
Following are transactions of Danica Company. Dec. 13 Accepted a $9,500, 45-day, 8% note in granting Miranda Lee a time extension on her past-due account receivable. 31 Prepared an adjusting entry to record the accrued interest on the Lee note Exercise 9-13 Notes receivable transactions LO P4 Jan. 27 Received Lee's payment for principal and interest on the note dated December 13 . Mar. 3 Accepted a $ 5,000,10%, 90 -day note in granting a time extension on the past-due account receivable of Tomas Company.17...
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