Statement Date 03/1/2019 Previous Balance 154.32 Previous Payment 154.32 New Balance $145.79 Annual Percentage Rate 15.50%

Answer with Formulas with upvotes

Recording Accrued Interest Expense Alaska Inc. borrowed $16,000 by signing a one-year note payable on November 1, 2020. The note bears interest at 10% and interest is payable upon maturity of the note. a. Record this financing transaction on November 1, 2020. b. Record the year-end adjusting entry required on December 31, 2020. Hint: Prorate the annual interest of 10% for two months. c. Record the entry to repay the note on November 1, 2021. Note: Round your answers to the nearest dollar. For example, enter 50 for 50.49 and enter 51 for 50.5

Journalize the first annual interest payment on December 31, 20X1.

item has cash price of $578 can be purchased on the installment plan in 15 monthly payments of 46$ find the installemnt proce if no down payment was made

*Use the following information for Multiple Choice Questions 3-4: Kinsella Seed borrowed $200,000 on October 1, 2019, at 10% interest. The interest and principal are due on October 1, 2020. What journal entry should be recorded on December 31, 2019?    A. Debit Interest Expense 5,000; credit Interest Payable 5,000.  B. Debit Interest Payable 5,000; credit Interest Expense 5,000.  C. Debit Interest Receivable 20,000; credit Interest Expense 20,000.  D. No entry is necessary.

Adjusting journal entry for: On November 1st, 2018, FTS purchased a certificate of deposit from First National Bank for $25,000. The deposit earns interest of 2.0% annually and has a maturity end date of 11/1/2020.  Interest earned is received annually on November 1st of each year.

Following are transactions of Leduc Company: 2023 Dec.11 Accepted a $16,000, 6%, 60-day note dated this day in granting Fred Calhoun a time extension on his past-due account. Made an adjusting entry to record the accrued interest on the Fred Calhoun note. Closed the Interest income account. 31 31 2021 Jan. 10 Feb. 10 Mar. 5 29 May 7 June 9 Aug. 8 11 31 Oct. 12 Nov.19 Discounted the Fred Calhoun note at the bank at 7%. The Fred Calhoun note was dishonoured. Paid the bank the maturity value of the note plus a $30 fee. Accepted a $5,500, 5.5%, 60-day note dated this day in granting a time extension on the past-due account of Donna Reed. Discounted the Donna Reed note at the bank at 7.5%. The Donna Reed note had been received by the bank and paid by Donna Reed. Accepted a $7,750, 60-day, 5% note dated this day in granting a time extension on the past-due account of Jack Miller. Received payment of the maturity value of the Jack Miller note. Accepted an $9,000, 60-day, 5% note dated this…

Give typing answer with explanation and conclusion  A promissory note for $7200.00 dated May 15, 2016, requires an interest payment of $740.00 at maturity. If interest is at 9.6% compounded monthly, determine the due date of the note.   Group of answer choices   11 Oct 2018   24 Aug 2017   23 May 2017   21 Sep 2016   23 July 2016

karan subject-Accounting