ZuoTi.Pro
Question

A business issued a 30-day, 7% note for $33,600 to a creditor on account. The company...

A business issued a 30-day, 7% note for $33,600 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 needed, round your answers to the nearest dollar.

business   accounting   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

(a) the issuance of the note and (b) the payment of the note at maturity, including interest.

Can you please rate the answer . Thanks!!

0 0
Add a comment
Know the answer?
Add Answer to:
A business issued a 30-day, 7% note for $33,600 to a creditor on account. The company...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

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

  • A business issued a 30-day, 7% note for $42,000 to a creditor on account. The company...

    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.

  • A business issued a 90-day, 5% note for $22,000 to a creditor on account. The company...

    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...

    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.

  • A business issued a 60-day note for $87,000 to a creditor on account. The note was discounted at 7%.

    A business issued a 60-day note for $87,000 to a creditor on account. The note was discounted at 7%. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles. Round your answers to nearest whole dollar.Journal a. Journalize the entries to record the issuance of the note on March 1. Refer to the Chart of Accounts...

  • Journal Instructions A business issued a 45-day, 4% note for $180,000 to a creditor on account.

    Entries for notes payable Instructions Chart of Accounts Journal Instructions A business issued a 45-day, 4% note for $180,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles.a. Journalize the entry to record the issuance of the note on January 1. Refer to the Chart of Accounts for...

  • A business issued a 120-day, 5% note for $60,000 to a creditor on account.

    A business issued a 120-day, 5% note for $60,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account titles.

  • A business issued a 120-day, 15% note for $92,000 to a creditor on account

    Entries for Notes Payable A business issued a 120-day, 15% note for $92,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank. 

  • A business issued a 120-day, 5% note for $90,000 to a creditor on account. Journalize the...

    A business issued a 120-day, 5% note for $90,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note a (b) the payment of the note at maturit, including interest. Assume a 360-day year.

  • Entries for Discounted Note Payable A business issued a 30-day note for $48,000 to a creditor...

    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.

  • Entries for Notes Payable A business issued a 60-day, 15% note for $89,000 to a creditor...

    Entries for Notes Payable A business issued a 60-day, 15% note for $89,000 to a creditor on account. Journalize the entries to record (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. If an amount box does not require an entry, leave it blank а. b.

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