Tiger Woods purchases inventory in exchange for a 6 month note payable with a face value of 100,000 and a stated rate of 8 percent on November 1st. Prepare the journal entries at 11/1, year end (12/31), and April 30th.

Pedroni Enterprises issues a $260,000, 45 day 5 % note to Zorzi Industries for merchandise inventory   Journalize Pedroni Enterprises entries to record: The issuance of the note The payment of the note at maturity Journalize Zorzi Industries entries to record: The receipt of the note Receipt of the payment of the note at maturity On July 31, 2019 the balances of the accounts appearing in the ledger of Pedroni Interiors company a furniture wholesales, are as follows. Accumulated Depreciation – Building      $365,000        Ray Zorzi – Capital            $530,000 Administrative Expenses                               440,000        Ray Zorzi – Drawing              15,000 Building                                                            810,000        Sales                                    1,437,000 Cash                                                                   78,000          Sales tax Payable                     4,500 Cost of Merchandise Sold…

Bennett Enterprises isues a $480,000, 45-day, 9%, note to Spectrum Industries for merchandise inventory. Assume a 360-day year. If required, round your answers to the nearest dollar.If an amount box does not require an entry, leave it blank. a. Journalize Bennett Enterprises' entries to record: 1. the issuance of the note. 2. the payment of the note at maturity. 1. 2. b. Journalize Spectrum Industries' entries to record: 1. the receipt of the note. 2. the receipt of the payment of the note at maturity. 1. 2. 00

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.

Entries for notes payable Bennett Enterprises issues a $504,000, 30-day, 8 %, note to Spectrum Industries for merchandise inventory. Assume a 360-day year. If required, round your answers to the nearest dollar. If an amount box does not require an entry, leave it blank. Question Content Area a. Journalize Bennett Enterprises' entries to record: the issuance of the note. the payment of the note at maturity. 1. 2. Question Content Area b. Journalize Spectrum Industries' entries to record: the receipt of the note. the receipt of the payment of the note at maturity. 1. 2.

Entity O signed a five-month note payable in the amount of $18,000 on November 1 with principal and interest payable at maturity. The note requires interest at an annual rate of 8%. The amount of interest expense Entity O must recognize at December 31 is: $120 $240 $600 $1,400 O O

PLEASE SHOW ALL WORK You purchase goods on an invoice dated February 5 of a leap year, with terms of 5/10-90X. Calculate the last day of the discount period. The discount period ends 100 days (10 + 90 = 100) after the date of the invoice. February 5 is day 36.

A $10,000, 12%, 60-day note receivable is received on January 12. The note is discounted at 12% on January 18. What is the maturity value of the note ? Prepare journal entry to record at the date of maturity.