a company issued 1000 a six month promissory note at 5% interest that granted s dean...
Homework Answers
Journal entry for company issuing the note
| Account Titles | Debit | Credit |
| Accounts Payable | 1000 | |
| Notes Payable | 1000 | |
| (Notes Payable issued) | ||
| Notes Payable | 1000 | |
| Interest Expense | 25 | |
| Cash | 1025 | |
| (Payment of notes payable) |
Journal entries for company accepting the note
| Account Titles | Debit | Credit |
| Notes Receivable | 1000 | |
| Accounts Receivable | 1000 | |
| (Note accepted from receivable) | ||
| Cash | 1025 | |
| Notes Receivable | 1000 | |
| Interest Revenue | 25 | |
| (Collection of note) |
Add Answer to:
a company issued 1000 a six month promissory note at 5%
interest that granted s dean...
$79 million and issued a nine-month promissory note. Interest was discounted at issuance at On October...
$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...
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On October 1. Eder Fabrication borrowed $66 million and issued a nine-month, 8% promissory note. Interest...
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...
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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...
On October 1, Eder Fabrication borrowed $52 million and issued a nine-month promissory note. Interest was...
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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 $55 million and issued a nine-month promissory note. Interest was...
On October 1, Eder Fabrication borrowed $55 million and issued a
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Prepare the journal entry for the issuance of the note and the
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Answer is complete but...
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Marigold Corp. receives a 59300, 3-month promissory note from Blossom Company in settement of an open accounts receivable what entry wil Marigold Corp make upon receiving the note? Not Receivable 9486 Accounts Receivable-Blossom Company Not Receivable Accounts Receivables Company Interest Revenue Notes Recevable Accounts Receivable Boom Company Not Receive resta ble Accounts Receivable-Blossom Interest
$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...
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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...
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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...
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 $55 million and issued a
nine-month promissory note. Interest was discounted at issuance at
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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.)
Answer is complete but...
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