Date | Account/Description | Debit | Credit |
Jan 1, 2012 | Cash | $40,000.00 | |
Notes Payable | $40,000.00 | ||
(To record notes payable of $40000 with interest rate of 9% to be paid in 48 monthly installment of $995.40) | |||
Jan 31, 2012 | Interest Expense | $300.00 | |
Notes Payable | $695.40 | ||
Cash | $995.40 | ||
(To record payment of installment on note payable) | |||
Feb 28, 2012 | Interest Expense | $294.78 | |
Notes Payable | $700.62 | ||
Cash | $995.40 | ||
(To record payment of installment on note payable) | |||
July 1, 2013 | Notes Payable | $26,651.99 | |
Cash | $26,651.99 | ||
(To record repayment of notes payable in full) |
homework question an t 2012 Yeart ofte s Als require explanations Date AOOUD PR Dr. Or Explanation to include detai...
bagin from the second picture Name: QIQI PEI Date: 2020/2/27 Assignment: 1. Prepare a Note Amortization table thru payoff. 2. Journalize transactions (Click tab below.) Submit to your Canvas Assignment folder. New File Name convention: Lname Fname Note Amort Table.xls 010 File name: Note Payable Amortization Table Video 10kXxb Issue Date: 2012/1/1 Note Amount: 40,000 Interest Rate (Annual): Interest Rate per Monthly payment: 0.7500% # of Monthly Payments: 48 Payment per period: ($995. 40) Interest Pre Pays Principal Balance Pmt...