Journalize the following, assuming a 360-day year is used for interest calculations: Apr. 30 Issued a...
Journalize the following, assuming a 360-day year is used for interest calculations:Apr. 30 Issued a $150,000, 30-day, 6% note dated April 30 to Misner Co. on account.May 30 Paid Misner Co. the amount owed on the note dated April 30
Journalize the following transactions in the accounts of Safari Games Co., which operates a riverboat casino. Assume 360 days in a year. For a compound transaction, if an amount box does not require an entry, leave it blank. Round final answers to the nearest cent when necessary. Apr. 18. Received a $21,600, 60-day, 10% note dated April 18 from Glenn Cross on account. 30. Received a $37,200, 60-day, 6% note dated April 30 from Rhoni Melville on account. May 18....
A business issued a 30-day, 7% note for $42,000 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar.
Entries for Discounted Note Payable A business issued a 60-day note for $60,000 to a bank. The note was discounted at 8%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Journalize the entry to record the payment of the note at maturity. If an amount box does not require an entry, leave it blank.
A business issued a 90-day, 5% note for $22,000 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. If an amount box does not require an entry, leave it blank. When required, round your answers to the nearest dollar. a. b.
A business issued a 120-day, 6% note for $12,600 to a creditor on account. The company uses a 360-day year for interest calculations. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. If an amount box does not require an entry, leave it blank or enter 0. When required, round your answers to the nearest dollar.
ntries for Discounted Note Payable business issued a 30-day note for $51,000 to a creditor on account. The note was discounted at 8%. Assume a 360-day year . Journalize the entry to record the issuance of the note. For a compound transaction, if an amount box does not require an entry, leave it blank. If necessary, round to one decimal b. Journalize the entry to record the payment of the note at maturity
Entries for Discounted Note Payable A business issued a 30-day note for $48,000 to a creditor on account. The note wass discounted at 9%. Assume a 360-day year. a. Journalize the entry to record the issuance of the note. If an amount box does not require an entry, leave blank. If necessary, round to one decimal place. а. b. Journalize the entry to record the payment of the note at maturity. b.
Hasty and Tasty Foodservice received a 120-day, 8% note for $24,000, dated April 9, from a customer on account. Assume 360 days in a year. a. Determine the due date of the note. b. Determine the maturity value of the note. c. Journalize the entry to record the receipt of the payment of the note at maturity. If an amount box does not require an entry, leave it blank.
Entries for Notes Receivable Valley Designs issued a 90-day, 6 note for $36,000, dated April 19, to Bark Furniture Company on account. Assume 360 days in a year when computing the interest. a. Determine the due date of the note b. Determine the maturity value of the note.c1. Journalize the entry to record the receipt of the note by Bork Furniture. If an amount box does not require an entry, leave it blank.c2. Souralire the entry to record the receipt of payment of...