19. Prepare the general journal entries for the following notes payable transactions for the Village Dock Café. Mar. 3 Village Dock Café purchased merchandise on account, $6,000. Apr. 2 Village Dock Café issued a 60-day, 10% note to pay off the account. 30 Village Dock Café paid off the preceding note on the maturity date.

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A: Maturity date: Maturity date is the due date on note. On due date, the borrower is supposed to repay…

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A: The journal entries are the first step in accounting to record transactions. The T0accounts are…

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A: Lets understand the basics.When notes payable has been paid through notes payable then interest…

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A: Journal: Recording of a business transactions in a chronological order.

Q: rest) on the old (3 nd interest on the 5% note in payme st) plus $1,000 p

A:

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Q: On June 5, Watson Company received a $5,400, 30-day, 10% note from Baker in payment of its account…

A: A journal entry is a basic accounting record that is used to chronologically track financial…

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A: Journal entry - It refers to the process where the business transactions are recorded in the books…

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A: The note receivable is an asset for the business which is issued by the debtors of the business.…

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A: Introduction: A note payable is a promissory note in writing. Under this agreement, a borrower…

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A:

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A: Notes payable -A written promissory note is called a note payable. In accordance with this…

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Q: it is very important!!

A: Following are the notes payable transactions of Village Dock Cafe are as follows : Mar 3 Purchases…

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A: Interest on note = Face value of note x rate of interest x no. of days / 360 = $42000 x 6% x 120/360…

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A: Lets understand the basics.Notes payable an instrument issued by the borrower to the lender. This…

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A:

Q: Borrowed $5,000 cash from the bank, giving a 60-day non-interest-bearing note. T July 15 note is…

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A: Formula: Interest expense = Notes amount x Time period x Interest rate