On March 15, 2021, Julio borrowed $910 from Sheridan Credit Union at 7.19% per annum calculated in the daily balance. He gave the Credit union six cheques for $137 dated on the 15th of each of the next six months starting April 15 and a cheque dated October 15 for the remaining balance to cover payment of interest and repayment of principal. Construct a complete repayment schedule using the days of the month appropriate for each month. Do not include the dollar sign in your answers. Calculate the sum of the Amount Paid column. Calculate the sum of the Interest Paid column. Check

Analyze and review the following items and determine the appropriate journal entry.  Bank Loan Interest on the bank loan is 2.50% annually.  Interest has to be paid on January 7, 2021; for 2020.  The entire amount of the loan ($4,000,000) was outstanding during the entire year.  No payments were made during the year.  Of the bank loan, $1,000,000 is due June 30, 2021 with the remainder due June 30, 2026. Notes Payable This is a short-term note.  The company borrowed money from JRT Investments on October 31, 2020 for 3 months.  The principal, along with interest is to be repaid on January 31, 2021.  The interest rate is 1.8%.

On November 12, 2021, Jones Corporation borrows money at James National Bank by issuing a $10,000, 3 month, non-interest-bearing note. THe note is discounted on a 12% basis. Make a journal entry to record the issurance of the note.

On July 18, Aui accepted a $15,000, 7¾%, 180-day note from Ryan. On October 5, Aui discounted the note at Brome Bank at 8¼%. What proceeds did Aui receive? Use ordinary interest.

On Jan 1st, 2022, Saturn borrows $2,000,000 from Orange Bank and pledges $2,500,000 of its accounts receivables as collateral. Saturn pays a 1% finance fee for the borrowing and the interest is 8% on the note. Record the journal entry on Jan 1st, 2022.

Sylvestor Systems borrows $174,000 cash on May 15 by signing a 90-day, 6%, $174,000 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 1 Required 2A View transaction list Use those calculated values to prepare your entry to record payment of the note at maturity. Note: Use 360 days a year. Round final answers to the nearest whole dollar. Required 2B Required 2B Interest at Maturity Journal entry worksheet A General Journal Record the payment of the note at maturity. Note: Enter debits before credits. Date Maturity General Journal Debit Credit

Keesha Co. borrows $100,000 cash on November 1 of the current year by signing a 150-day, 10%, $100,000 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. Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Req 4 On what date does this note mature? (Assume that February has 28 days.) On what date does this note mature?

Jenkins Inc. had the following transactions. Sep 1 Loaned $20,000 to an employee, who signed a 9-month, 9% note. Interest and principal will all be due on May 31. Dec. 31- Accrued interest on the note. (Round to the nearest whole dollar amount.) May 31 Received the interest on the note's maturity date. PE May 31 amount.) Required: Prepare the required journal entries. Use the MSWord link for the table to write your journal entries. After you have written the journal entries on the table in the MSWord document provided, Received the principal on the note's maturity date. (Round to the nearest whole dollar

On December 1, 2021, abc  Ltd. borrowed $180,000 from a local bank by signing a four-month, 5% interest-bearing note.  All payments will be made at the note's maturity date.  Assuming Parfait has a December 31 year-end, the adjusting journal entry on December 31 will include a:     debit to Interest payable of $750.   credit to Notes Payable of $750   credit to Interest payable of $750   credit to Interest expense of $750

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