Publishing completed the following transactions during 2018 Oct 1: Sold a six-month subscription (starting on November 1), collecting cash of $540, plus sales tax of 8%. (Prepare a single compound entry for this transaction.) Date Accounts and Explanation Debit Credit Oct. 1 Nov. 15: Remitted (paid) the sales tax to the state of Tennessee. Date Accounts and Explanation Debit Credit Nov. 15 Dec. 31: Made the necessary adjustment at year-end to record the amount of subscription revenue earned during the year. Date Accounts and Explanation Debit Credit Dec. 31

(Bonus Question 02) Record the sale by Verity Springs, Inc. of $136,000 in accounts receivable on May 1. Verity Springs is charged a 3.00% factoring fee. View transaction list Journal entry worksheet < 1 Record the sale of receivable. Note: Enter debits before credits. Date May 01 General Journal Debit Credit

Question. Jamaica Corporation carried out the following transactions involving note payable. During the fiscal year ended December 31, 2020. Aug 6      Borrowed $ 15,200 from Tony Stark, issuing to him a 45 da, 14% note payable. Sept. 16   Purchased office equipment from Ikea Company. The invoice amount was $18,800 and Ikea Company agreed to accept as full payment a 3-month, 15% note for the invoice amount. Sept. 20   Paid Tony Stark note plus accrued interest. Nov.1      Borrowed $ 2,35,000 from Nation Commercial Bank at an interest rate of 12% per annum; signed a 90-days note payable for $ 2,42,256, which included  a $7,056 interest charge in the face amount. Dec.1      Purchased merchandise in the amount of $13,000 from Stephens & Co. Gave in settlement a 60-day note nearing interest at 15% (Perpetual inventory system is deployed). Dec. 16   The $18,800 note payable to Ikea Company matured today. Paid the interest accrued and issued new 30-days, 12% note to replace the maturing…

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 >

E4-29 Mattson Loan Company completed these transactions: 2019 Apr. Dec. 2020 Apr. 1 Loaned $20,000 to Charlene Baker on a one-year, 5% note. 31 Accrued interest revenue on the Baker note. 1 Collected the maturity value of the note from Baker (principal plus interest). Show what Mattson would report for these transactions on its 2019 and 2020 balance sheets and income statements. Mattson's accounting year ends on December 31.

Help me selecting the right answer. Thank you

The transaction below pertains to Boyer Coe Company, whose fiscal year ends December 31. On November 1, 2019 Coe borrowed $25,000 at 6 percent for 6 months. The entry to record the November 1 borrowing transaction would include a:  A. Credit to notes payable for $750  B. Credit to notes payable for $24,250  C. Debit to cash for $24,250  D. Debit to cash for $25,000

On August 2, Jun Company receives a $7,000, 90-day, 11.5% note from customer Ryan Albany as payment on his $7,000 account receivable. Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.) View transaction list Journal entry worksheet 1 Record cash received on note plus interest. Note: Enter debits before credits. Date October 31 General Journal Debit Credit

Do a journal entry based on this transections, round interest amounts to the nearest dollar,

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.