16. On October 1, 2020, Zachary's Balloons borrowed $4,000 on a 12%, one-year note payable. Interest was payable semiannually. A correct adjusting entry was made on December 31, 2020, and a correct reversing entry was made on January 1, 2021. The entry that should be made on March 31, 2021, is a. Interest Payable 240 Cash 240 b. Interest Expense Interest Payable 120 120 Cash 240 c. Interest Expense 240 Cash 240 d. Interest Expense 120 Cash 120

the pita pit borrowed 197000 on november 1 2021 and signed a six month note bearing interest at 12%. principal and interest are payable in full at maturity on may 1 2022 in connection with this note. the pita pit should report interest expense at december 31 2021 in the amount of.

Hi,  How do i solve for the missing amounts?

Keesha Company borrows $115,000 cash on November 1 of the current year by signing a 180-day, 11%, $115,000 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 at maturity. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 On what date does this note mature? (Assume that February has 28 days.) On what date does this note mature?

Keesha Co. borrows $100,000 cash on November 1 of the current year by signing a 150-day, 10%, $100,000 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 at maturity. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 On what date does this note mature? (Assume that February has 28 days.) On what date does this note mature?

Jane's Donut Co. borrowed OMR 50,000 on March 1, 2018, and signed a one-year note bearing interest at 12%. Interest is payable in full at maturity on March 1, 2019. In connection with this note, how much Jane Co. would pay at March 31, 2019?    Select one: A. 56,000 B. 55,000 C. 54,500 D. 57,000

On December 1, 2021, abc  Ltd. borrowed $180,000 from a local bank by signing a four-month, 5% interest-bearing note.  All payments will be made at the note's maturity date.  Assuming Parfait has a December 31 year-end, the adjusting journal entry on December 31 will include a:     debit to Interest payable of $750.   credit to Notes Payable of $750   credit to Interest payable of $750   credit to Interest expense of $750

ABC Company received a ten-month, $18,000, 4% note from XYZ Corporation on April 1, 2020 to replace an accounts receivable. Assuming all necessary adjusting entries were made at year end, December 31, 2020, the entry ABC makes on the maturity date would include a: credit to interest receivable for $540. credit to note receivable for $18,600 credit to interest revenue for $600 A. В. С. D. debit to interest revenue for $60 Е. credit to interest revenue for $720

On july 1, 2021 I borrowed 50,000 with notes payable with an interest of 6 percent a year. The note and interest are due on December 31st, 2021. On December 31st 2021 I paid 51,500 to settle the debt in full. Assuming no accruals for interest have been made during the year, what is the entry that I need to record?

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