4) Eloquent Media Ltd. completed the following transactions: Sept. 14, 2019 Provided services to Inga Corporation on account, $3,000, terms 30 days. Nov. 1, 2019 Accepted a one-year, 12% note from Inga Corporation to settle its account. Dec. 31, 2019 Accrued interest on the note from Inga Corporation. (Round to the nearest dollar.) Nov. 1, 2020 Received amount due from Inga Corporation. Record entries for the above transactions.

On June 18, 2020, Woods Co. received from one of its customers, Webb Co., a 90 day, 11%, $6,000 note receivable, in exchange for contract services provided. Woods Co. has a March 31 year end. Webb Co. honoured the note at maturity. Prepare the entries for the issuance and the maturity of the note. Short Answer Toolbar navigation BIUS

On July 8, Jones Inc. issued an $69,300, 6%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends July 31. Using a 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? When required, round your answer to the nearest dollar. )a. $798 b. $266 Oc. $4,158 Od. $532

PART - E Toner Limited (“Toner") borrows $180,000 on 1 July 2020 from Lighthouse Bank and signs a $180,000, 5%, 1-year promissory note. Assuming yearly accounting periods and a financial year end balance date of 31 December. Required: (i) Prepare the general journal entries to record the issuance of the promissory note. (ii) Prepare the general journal entries to record the adjusting journal entries as at 31 December 2020. (iii) Prepare the general journal entries to record the repayment on 1 July of 2021.

Question. Jamaica Corporation carried out the following transactions involving note payable. During the fiscal year ended December 31, 2020. Aug 6      Borrowed $ 15,200 from Tony Stark, issuing to him a 45 da, 14% note payable. Sept. 16   Purchased office equipment from Ikea Company. The invoice amount was $18,800 and Ikea Company agreed to accept as full payment a 3-month, 15% note for the invoice amount. Sept. 20   Paid Tony Stark note plus accrued interest. Nov.1      Borrowed $ 2,35,000 from Nation Commercial Bank at an interest rate of 12% per annum; signed a 90-days note payable for $ 2,42,256, which included  a $7,056 interest charge in the face amount. Dec.1      Purchased merchandise in the amount of $13,000 from Stephens & Co. Gave in settlement a 60-day note nearing interest at 15% (Perpetual inventory system is deployed). Dec. 16   The $18,800 note payable to Ikea Company matured today. Paid the interest accrued and issued new 30-days, 12% note to replace the maturing…

E4-29 Mattson Loan Company completed these transactions: 2019 Apr. Dec. 2020 Apr. 1 Loaned $20,000 to Charlene Baker on a one-year, 5% note. 31 Accrued interest revenue on the Baker note. 1 Collected the maturity value of the note from Baker (principal plus interest). Show what Mattson would report for these transactions on its 2019 and 2020 balance sheets and income statements. Mattson's accounting year ends on December 31.

Record the following journal entries: 1) Record issuance of note 2) Record the adjusting entry for interest 3) Record the repayment of the note and payment t of interest maturity

The transaction below pertains to Boyer Coe Company, whose fiscal year ends December 31. On November 1, 2019 Coe borrowed $25,000 at 6 percent for 6 months. The entry to record the November 1 borrowing transaction would include a:  A. Credit to notes payable for $750  B. Credit to notes payable for $24,250  C. Debit to cash for $24,250  D. Debit to cash for $25,000

Please help me

Crane Construction Ltd. borrowed $396,000 from Atco Finance Ltd. on October 1, 2023, by issuing a 6% nine-month note payable, with principal and interest payable at maturity. Both companies have a December 31 year end and make adjusting entries annually. (a) For Sheffield Construction, record (1) the receipt of the $396,000 cash and the issue of the note payable on October 1, 2023: (2) the accrual of interest on December 31, 2023; and (3) the payment of the note and interest on July 1, 2024. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. List all debit entries before credit entries.) Date Account Titles Oct. 1, 2023 Dec. 31, 2023 July 1, 2024 Debit Cr