Question

Jasper makes a 586000, 90-day cash loan to Clayton Co Jaspers entry to record the traction house Mul Choice (8 . O Debt Cath
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Entry to record the issue of Notes and all 71. Xlotes Receivable - $86000 term = 90 days Since notes orecirable is an asset i

Add a comment
Know the answer?
Add Answer to:
Jasper makes a 586000, 90-day cash loan to Clayton Co Jasper's entry to record the traction...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • jasper makes a $47,000, 90-day, 7% cash loan to clayborn co. Jasper's entry to record the...

    jasper makes a $47,000, 90-day, 7% cash loan to clayborn co. Jasper's entry to record the collection of the note and interest at maturity should be

  • iz Saved Jasper makes a $85,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to...

    iz Saved Jasper makes a $85,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: Multiple Choice Debit Notes Receivable for $85,000; credit Cash $85,000. O Debit Accounts Receivable $85,000; credit Notes Receivable $85,000. Debit Cash $85,000 credit Notes Receivable for $85,000 Debit Notes Payable $85.000 credit Accounts Payable $85,000 < Prey 3 of 20 !!! Night lagt > The interest accrued on $4,000 at 6% for 45 days is: (Use 360 days a...

  • 17) Jasper makes a $89,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record...

    17) Jasper makes a $89,000, 90-day, 7% cash loan to Clayborn Co. Jasper's entry to record the transaction should be: A) Debit Notes Receivable for $89,000; credit Cash $89,000. B) Debit Notes Payable $89,000: credit Accounts Payable $89,000. C) Debit Accounts Receivable $89,000; credit Notes Receivable $89,000. D) Debit Notes Receivable $89.000; credit Sales $89,000. E) Debit Cash $89,000; credit Notes Receivable for $89,000. 18) Jasper makes a $50,000, 90-day, 9,0% cash loan to Clayborn Co. Jasper's entry to record...

  • Third National Bank makes a S29.000. 90-day, 90% cash loan to Equit Co. which of entry...

    Third National Bank makes a S29.000. 90-day, 90% cash loan to Equit Co. which of entry that Third National Bank should record assuming Equit Co. pays the Bank the amount due on the maturity date of the note? (Use 360-day year with 30 days each month) the answer choices is the Correct journal Mutiple Choice Debit Notes Payable $29,000 Debit Interest Expense $2,610, credit Cash $31610 Debit Cash $29,652.50, credit Notes Receivable for $29 652 50 Debit Cash $31,610, credn...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT