Admire County Bank agrees to lend Crane Brick Company $590000 on January 1. Crane Brick Company signs a $590000, 6%, 9- month note. The entry made by Crane Brick Company on January 1 to record the proceeds and issuance of the note is Cash Notes Payable O Cash Interest Expense Notes Payable Interest Payable Cash Interest Expense Notes Payable Interest Expense Cash Notes Payable 590000 590000 26550 590000 26550 26550 563450 590000 590000 26550 616550 590000

Moss County Bank agrees to lend the Sandhill Co. $635000 on January 1. Sandhill Co. signs a $635000, 6%, 9-month note. The entry made by Sandhill Co. on January 1 to record the proceeds and issuance of the note is

Subject:- accounting

Proceeds journal entry

Lyon County Bank agrees to len Grimwood Brick Company $100,000 on January 1. Grimwood Brick Company signs a $100,000, 8% 9-month note. The entry made by Grimwood Brick Company on January 1 to recor the proceeds and insurance of the note is?

West County Bank agrees to lend Wildhorse Co. $472000 on January 1. Wildhorse Co. signs a $472000, 6%, 6-month note. What entry will Wildhorse Co. make to pay off the note and interest at maturity assuming that interest has been accrued to June 30? Notes Payable 486160        Cash   486160 Interest Payable 7080   Notes Payable 472000   Interest Expense 7080        Cash   486160 Notes Payable 472000   Interest Payable 14160        Cash   486160 Interest Expense 14160   Notes Payable 472000        Cash   486160

Presley Supply Co. has the following transaction related to notes receivable during the last 2 months of 2020. Nov. 1 Loaned $30,000 cash to Logan Ransey on a 1-year, 10% note. Dec. 11 Sold goods to be Joe Noland, Inc., receiving a $9,000, 90-day, 8% note. 16 Received a $4,000, 6-month, 9% note in exchange for Jane Brock's outstanding accounts receivable. 31 Accrued interest revenue on all notes receivable. (a) Your Answer Correct Answer (Used) Your answer is partially correct. Journalize the above transactions for Presley Supply Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round interest to the nearest dollar.) (b) Date Account Titles and Explanation Nov. 1 Notes Receivable Cash Dec. 11 Notes Receivable Sales Revenue 16 Notes Receivable Accounts Receivable 31 Interest Receivable Interest Revenue eTextbook and Media Solution List of Accounts Debit 30000 9000 4000 667 Credit 30000 9000 4000 667 Attempts: 3 of 3 used Record the…

Selkirk Company obtained a $24,000 note receivable from a customer on January 1, 2021. The note, along with interest at 8%, is due on July 1, 2021. On February 28, 2021, Selkirk discounted the note at Unionville Bank. The bank's discount rate is 10%. Required: Prepare the journal entries required on February 28, 2021, to accrue interest and to record the discounting for Selkirk. Assume that the discounting is accounted for as a sale. (do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.). Tab 1) Record the accrued interest earned. Tab 2) Record the discounting of note receivable. Date                                          General Journal                            Debit                   Credit February 28, 2021     ____________________________      ___________    ____________                                   _____________________________    ____________   ____________…

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