QS 9-4 Interest-bearing note transactions LO P1 On November 7, Mura Company borrows $370,000 cash by...
QS 9-4 Interest-bearing note transactions LO P1 On November 7, Mura Company borrows $330,000 cash by signing a 90-day, 5%, $330,000 note payable. 1. Compute the accrued interest payable on December 31. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Complete this question by entering your answers in the tabs below. Reg 1 Reg and 3 Compute the accrued interest payable on...
QS 9-4 Interest-bearing note transactions LO P1 On November 7, 2018, Mura Company borrows $270,000 cash by signing a 90-day, 7% note payable with a face value of $270,000. 1. Compute the accrued interest payable on December 31, 2018 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2018 and payment of the note at maturity. Complete this question by entering your answers in the tabs below Reg 1 Req 2 and 3...
Vypath llore er 9 Homework Help Seve & Exht Subm Check my work QS 9-4 Interest-bearing note transactions LO P1 On November 7, Mura Company borrows $350,000 cash by signing a 90-day, 8%, $350,000 note payable. 1. Compute the accrued interest payable on December 31 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31 and payment of the note at maturity on February 5. Complete this question by entering your answers in the...
Exercise 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $250,000 cash on November 1 of the current year by signing a 120-day, 11%, $250,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of...
On November 7. Mura Company borrows $360,000 cash by signing a 90 day, 9%, S360.000 note payable. 1. Compute the accrued interest payable on December 31 2.&3. Prepare the journal entry to record the accrued interest expense at December 31 and payment of the note at maturity on February 5.
Exercise 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $130,000 cash on November 1 of the current year by signing a 180-day, 11%, $130,000 note 1. On what date does this note mature? 2&3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note...
On November 7, 2017, Mura Company borrows $330,000 cash by signing a 90-day, 5% note payable with a face value of $330,000. (Use 360 days a year. Do not round your intermediate calculations.) 1. Compute the accrued interest payable on December 31, 2017. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2017 and payment of the note at maturity.
On November 7, Mura Company borrows $280,000 cash by signing a 90-day, 10%, $280,000 note payable. 1. Compute the accrued interest payable on December 31. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31 and payment of the note at maturity on February 5.
On November 7, 2017, Mura Company borrows $240,000 cash by signing a 90-day, 11% note payable with a face value of $240,000. (Use 360 days a year. Do not round your intermediate calculations.) 1. Compute the accrued interest payable on December 31, 2017. 2. & 3. Prepare the journal entry to record the accrued interest expense at December 31, 2017 and payment of the note at maturity.
Exercise 9-4 Interest-bearing notes payable with year-end adjustments LO P1 Keesha Co. borrows $195,000 cash on November 1 of the current year by signing a 150-day, 8%, $195,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of...