Interest of $162 had accrued on the notes payable for the month of September.

On April 1, Ringo Company borrowed $20,000 from its bank by issuing a 9%, 12-month note, with the interest to be paid on the maturity date. Prepare journal entries to record the issuance of the note and the related year-end adjusting entry on December 31.

The maturity value of a $192,000, 6%, 40-day note receivable dated July 3 is

4. Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. Complete this question by entering your answers in the tabs below. Req 1 Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. Note: Use 360 days a year. Do not round intermediate calculations. View transaction list 2 Req 2 and 3 3 1 Record the issuance of the note on December 1. Req 4 Record the interest accrued on the note as of December 31, current year. Note : Record payment of the note at maturity, assuming no reversing entries were made on January 1. = = journal entry has been entered Record entry Clear entry X Credit View general journal >

On November 16, Bell borrowed $10,000 from Graham and gave a 90-day, 12% note. On December 31, the end of the accounting period, Graham would record:  Select one: a. An increase to Notes receivable of $150 b. An increase to Interest receivable of $300 c. An increase to Cash of $150 d. An increase to Interest receivable of $150 e. None of the above

Keesha Co. borrows $230,000 cash on November 1 of the current year by signing a 180-day, 7%, $230,000 note. 1. On what date does this note mature? 2. & 3. What is the amount of interest expense in the current year and the following year from this note? 4. Prepare journal entries to record (a) issuance of the note, (b) accrual of Interest on December 31, and (c) payment of the note at maturity. O Answer is not complete. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 and 3 Reg 4 Prepare journal entries to record (a) issuance of the note, (b) accrual of interest on December 31, and (c) payment of the note at maturity. (Use360 days a year. Do not round intermediate calculations.) No Transaction General Journal Debit Credit 230,000 1 (a) Cash 230.000 O Notes payable 2,728 (b) Interest expense 2,728 8 Interest payable 230,000 2,728 3 3 (c) Notes payable Interest payable 5,322 Interest expense

On July 8, Jones Inc. issued an $76,900, 10%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends on July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year? Round your answer to the nearest whole dollar. a.$1,068 b.$1,282 c.$491 d.$641

On January 1, $50,000 cash is borrowed from a bank in return for a 6% installment note with 24 monthly payments of $2,216 each. 1. Prepare the journal entry to record the issuance of the note.2. Prepare the journal entry to record the first monthly interest payment.

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

On January 26, Elegant Co. borrowed cash from Conrad Bank by issuing a 90-day note with a face amount of $64,800. Assume a 360-day year. a. Determine the proceeds of the note, assuming the note carries an interest rate of 9%.  b. Determine the proceeds of the note, assuming the note is discounted at 9%.