om Xssment iZakariye - OhioLINKmheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252FmghmiddleInterestAmountsFollowing are transactions for Vitalo Company.November 1 Accepted a $7,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due accountreceivable.December 31 Adjusted the year-end accounts for the accrued interest earned on the White note.April 30 White honored her note when presented for payment.Complete this question by entering your answers in the tabs below.View transaction list<XGeneralJournalUse those calculated values to prepare your journal entries.Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare yourjournal entries. (Do not round intermediate calculations. Use 360 days a year.)1Web Login Service - Stale XJournal entry worksheet2DateNovember013DEL Ch 7: Assessment - Essent XNote: Enter debits before credits.SavedAccepted a $7,000, 180-day, 5% note from Kelly White in granting a timeextension on her past-due account receivable.General Journal< PrevDebitCreditQuestion 1- Ch 7: Assessm X1 of 5>AnsNext >Hel m xZakariye - OhioLINK=sment iWeb Login Service - Stalemheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mheducation.com%252FmghmiddlewaInterestAmountsXFollowing are transactions for Vitalo Company.November 1 Accepted a $7,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due accountreceivable.December 31 Adjusted the year-end accounts for the accrued interest earned on the White note.April 30 White honored her note when presented for payment.GeneralJournalPrincipalRate (%)TimeTotal interestComplete this question by entering your answers in the tabs below.D2L Ch 7: Assessment - Essent XTotal ThroughMaturityComplete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare yourjournal entries. (Do not round intermediate calculations. Use 360 days a year.)SavedComplete the table to calculate the interest amounts at December 31st and April 30thJanuary 1November 1ThroughDecember 31ThroughApril 30< Interest Amounts< PrevQuestion 1 - Ch 7: Assessm XGeneral Journal >1 of 5AnswerNext >Help

Interest from November 1st to December 31st = $7,000×5%×60/360 =$58.3333333333

Following are transactions for Vitalo Company. November 1 Accepted a $7,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest Amounts Use those calculated values to prepare your journal entries. View transaction list General Journal Journal entry worksheet < 1 2 Date November 01 3 Accepted a $7,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due account receivable. Note: Enter debits before credits. General Journal Debit < Prev Credit 1 of 5 > Next >

Following are transactions for Vitalo Company. November 1 Accepted a $7,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due account receivable. December 31 Adjusted the year-end accounts for the accrued interest earned on the White note. April 30 White honored her note when presented for payment. Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries. (Do not round intermediate calculations. Use 360 days a year.) Complete this question by entering your answers in the tabs below. Interest Amounts Use those calculated values to prepare your journal entries. View transaction list General Journal Journal entry worksheet < 1 2 Date November 01 3 Accepted a $7,000, 180-day, 5% note from Kelly White in granting a time extension on her past-due account receivable. Note: Enter debits before credits. General Journal Debit < Prev Credit 1 of 5 > Next >

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

On August 2, Jun Co. receives a $7,300, 90-day, 12% note from customer Ryan Albany as payment on his $7,300 account. 1. Compute the maturity date for the above note. multiple choice October 29 October 30 October 31 November 1 November 2 2. Prepare Jun’s journal entry for August 2. 1 Record receipt of note on account.
Haresh
jeremy opened a CD (certificate of deposit) on April 3, 2018 with an interest rate of 4.65% compounded weekly. How much was initially deposited if Jeremy checks his account on December 5, 2018 and discovers the account balance is $3614? Round your answer to the nearest cent.
Please help me. Thankyou.
ces Required information [The following information applies to the questions displayed below.] Following are transactions of Danica Company. December 13 Accepted a $20,000, 45-day, 4% note in granting Miranda Lee a time extension on her past-due account receivable. December 31 Prepared an adjusting entry to record the accrued interest on the Lee note. Complete the table to calculate the interest amounts at December 31st and use the calculated value to prepare your journal entries. Note: Do not round your intermediate calculations. Use 360 days a year. Complete this question by entering your answers in the tabs below. Interest Amounts General Journal Complete the table to calculate the interest amounts at December 31st, Interest Recognized December 31 20,000 4% 18/360 Principal Rate (%) Time Total interest Total Through Maturity $ 20,000 $ 4% 45/360 Check my work
K On April 1, Hilda made a $2680 deposit to open a savings account paying 3% compounded daily. She then deposited $200 on May 2 and $630 on May 25. Find the balance on June 30 and the interes earned through that date. Click here to view the 3.5% compound interest table. Click here to view the 3.5% compound interest by quarters table View On June 30, what is the balance in the account? S (Round to the nearest cunt as needed.) - X 3.5% Interest Compounded Daily by Quarter Table 1 Interest by Quarter for 3 % Compounded Daily Assuming 90-day Quarters Number of Quarters. Value of (1+i) 1.008667067 1.017409251 1.026227205 1.035121505 3.5% Interest Compounded Daily Table Number R 1 2 3 4 5 6 7 8 9 10 11 12 13 Values of (1+1) for 3% Compounded Daily Valec of Value of 1.000095890 19 35 (1+1) It (1+i) A 1001823491 37 1.003554076 38 1003650307 56 1003746548 57 1000191790 20 1001919556 1.000287699 21 100201 5631 1.000383617 22 1.002111714 1003842797 1000479544 23 1002207807 41 1003939056 59…
Blossom Wholesalers accepts from Gates Stores a $8,000, 4-month, 9% note dated May 31 in settlement of Gates' overdue account. The maturity date of the note is September 30. (a1) Your answer is correct. Calculate the interest payable at maturity. Interest payable at maturity $ eTextbook and Media List of Accounts (a2) 240 Account Titles and Explanation What entry does Blossom make at the maturity date, assuming Gates pays the note and interest in full at that time? (List all debit entries before credit entries. Credit account titles are automatically indented when 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.) Debit Attempts: 1 of 3 used Credit
answer in text form please (without image), Note: .Every entry should have narration please
Prepare the journal entries, with appropriate journal entry descriptions, for 2020, including any required year-end adjusting entries.The company prepares annual adjusting entries.
Arvan Patel is a customer of Bank's Hardware Store. For Mr. Patel's latest purchase on January 1, 2018, Bank's Hardware issues a note with a principal amount of $560,000, 13% annual interest rate, and a 24-month maturity date on December 31, 2019. Record the journal entries for Bank’s Hardware Store for the following transactions. If an amount box does not require an entry, leave it blank. A. Note issuance. B. Subsequent interest entry on December 31, 2018. C. Honored note entry at maturity on December 31, 2019.
How did 80 and 160 come from? Please explain, thank you.
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