Webb8. The journal entry to record the issuance and proceeds of a note would include a. a debit to notes payable b. a debit to interest expense c. a credit to interest expense d. a debit to cash 9. Bonds with a face value of $500,000 and a quoted price of 97¼ have a selling price of a. $486,250. b. $485,125. c. $485,013. d. $487,500. 10. Webb1 nov. 2016 · .On November 1, 2016, a $216,000, 9-month, noninterest-bearing note is issued at a 10% discount rate. Required: Prepare the appropriate journal entry to record …
On November 1, Vacation Destinations borrows $1.57 million and …
WebbOn November 1, Bahama Cruise Lines borrows $3.4 million and issues a six-month, 6% note payable. Interest is payable at maturity. Record the issuance of the note and the … WebbOn November 1, Casey's Snowboards signed a $12,000, 90-day, 5% note payable to cover a past due account payable. a. What amount of interest expense on this note should Casey's Snowboards report on year-end December 31? b. Prepare Casey's journal entry to record the issuance of the note payable. gildea and ivanis
ACCT TEST 4 Flashcards Quizlet
WebbRecord the issuance of the note on November 1. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record the interest accrued on the note as of December 31, current year. Note: Enter debits before credits. Transaction General … WebbOn November 1, Bahama Cruise Lines borrows $4 million and issues a six-month, 6% note payable. Interest is payable at maturity. Determine the financial statement effects of (1) … Webb29 mars 2024 · The journal entries to record this note under each of the two cases are: The entry in Case 1 is straightforward. Cash is debited and Notes Payable is credited for $5,000. In Case 2, Notes Payable is credited for $5,200, the maturity value of the note, but S. F. Giant receives only $5,000 cash. ftso it