ABC lends Evergreen Inc. $40,000 on June 1, accepting a four-month, 6% interest note. ABC prepares financial statement on June 30. Which of the following represents correct adjusting entry pertaining this promissory note? Debit Note Receivable $40,000 O Credit Interest Revenue $600 debit Interest Receivable $200 Debit Cash $600

S On November 1, Bahama National Bank lends $3.9 million and accepts a six-month, 9% note receivable. Interest is due at maturity. Record the acceptance of the note and the appropriate adjustment for interest revenue at December 31, the end of the reporting period. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5 should be entered as 5,000,000).) View transaction list Journal entry worksheet 1 2 Record the acceptance of the note. Note: Enter debits before credits. Date November 01 Record entry General Journal Clear entry Debit Crec View gener

K Cheap Inc. borrowed $95,000 on October 1 by signing a note payable to Scotiabank. The interest expense for each month is $554. The loan agreement requires Cheap Inc. to pay interest on December 31. 1. Make Scotiabank's adjusting entry to accrue interest revenue and interest receivable at October 31, at November 30, and at December 31. Date each entry and include its explanation. 2. Post all three entries to the Interest Receivable account. You need not take the balance of the account at the end of each month. 3. Record the receipt of three months' interest at December 31. 1. Make Scotiabank's adjusting entry to accrue interest revenue and interest receivable at October 31, at November 30, and at December 31. Date each entry and include its explanation. (Record debits first, then credits. Enter explanations on the last line.) Start by making the adjusting entry to accrue monthly interest revenue for October. Date Oct Journal Entry Accounts and Explanation Debit Credit

journalize the following entries on the books of the borrower.  Assume a 360-day year.   January 1 Aggie Co. purchased merchandise on account from Low Co. for $40,000. January 30 Aggie Co. issued a 60-day, 6% note for $40,000 March 29 Aggie Co. paid the amount due at maturity Date Account Title Debit Credit Jan 1                       Jan 30                       March 29

Sylvestor Systems borrows $51,000 cash on May 15 by signing a 120-day, 7%, $51,000 note. 1. On what date does this note mature? 2-a. Prepare the entry to record issuance of the note. 2-b. First, complete the table below to calculate the interest expense at maturity. Use those calculated values to prepare your entry to record payment of the note at maturity. Complete this question by entering your answers in the tabs below. Required 2B Interest at Maturity On what date does this note mature? Required 1 Required 2A On what date does this note mature? Required 2B General Journal

Royal Bank agrees to lend Backyard Corporation $200,000 on January 1. Backyard signs a $200,000, 4%, 9-month note. Interest is due at maturity on September 30. Backyard's year end is March 31 when they post adjusting entries. What journal entry will Backyard make when paying off the note and interest at maturity? Debit notes payable $200,000, interest expense $4,000 and interest payable $2,000; Credit cash $206,000 Debit notes payable $206,000; Credit cash $206,000 Debit notes payable $200,000 and interest expense $6,000; Credit cash $206,000 Debit notes payable $200,000, interest expense $2,000 and interest payable $4,000; Credit cash $206,000

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Journalize the following entries on the books of the borrower and creditor.  Label accordingly. (Assume a 360-day year is used for interest calculations.) ​ June    1 James Co. purchased merchandise on account from O’Leary Co., $90,000, terms n/30.  The cost of merchandise sold was $54,000.          30 James Co. issued a 60-day, 5% note for $90,000 on account. Aug. 29 James Co. paid the amount due.

On the first day of the fiscal year, a company issues $39,000, 10%, four-year installment notes that have annual payments of $12,303. The first note payment consists of $3,900 of interest and $8,403 of principal repayment. Question Content Area a.  Journalize the entry to record the issuance of the installment notes. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank                 Feedback Area   Feedback   Question Content Area b.  Journalize the first annual note payment. If an amount box does not require an entry, leave it blank. blank Account Debit Credit blank

Wisconsin Bank lends Local Furniture Company​ $80,000 on November 1. Local Furniture Company signs a​ $80,000, 6%, 4 - month note. The fiscal year end of Local Furniture Company is December 31. The journal entry made by Local Furniture Company on December 31​ is: A. debit Interest Expense and credit Cash for​ $800   B. debit Interest Payable and credit Interest Expense for​ $800   C. debit Interest Expense and credit Interest Payable for​ $800   D. debit Interest Payable and credit Cash for​ $800 thanks for help apapreciated