The following information was taken from the books of Dumbledore Magic World for April and May 2019. List of balances in the Debtors ledger of Dumbledore Magic World as at 30 April 2019 Debtor Fol. Amount(R) H. Potter D1 16 780.45 H. Granger D2 20 750.22 R. Weasley D3 13 240.33 L. Voldermort D4 8 650.12 D. Malfoy D5 12 400.08 Debtors Journal of Dumbledore Magic World – May 2019 Doc No. Date Details Fol. Debtors Control Output VAT Sales INV478 2 H. Granger D2 24 560.26 3 203.51 21 356.75 INV479 8 L. Voldemort D4 45 970.65 5 996.17 39 974.48 INV480 13 H. Potter D1 14 600.76 1 904.45 12 696.31 INV481 15 D. Malfoy D5 18 730.55 2 443.12 16 287.43 INV482 18 R. Weasley D3…

Prepare journal entries for the following transactions that took place during the year, 2021:   a. Borrowed $50,000 cash on July 1, 2020, signing a two-year, 10% note payable. b. Purchased Land for $54,000 cash on July 1, 2020. c. Earned $50,000 in revenue, including $23,000 in cash and the rest on credit. d. Collected accounts receivable, $15,000. e. Paid wages to employees, $22,000. f. Purchased supplies of $4,500 on account. g. Paid accounts payable, $4,500. h. Recorded depreciation of $2,300 for the year. i. Recorded estimated bad debt expense of $500. j. Determined that only $1,500 of the supplies purchased in f. were on hand at the end of the year.

Phoebe Corporation signed a six-month note payable on October 23, 2018. What accountsrelating to the note payable will be reported on its financial statements for the fiscal yearending December 31, 2018?a. Notes payable and interest payable will be reported on the balance sheet.b. Notes payable will be reported on the balance sheet and interest payable will be reportedon the income statement.c. Notes payable, interest payable, and interest expense will be reported on the balancesheet.d. Interest receivable will be reported on the balance sheet and notes payable will bereported on the income statement.

Prepare journal entries to record provisions for warranties and reconstruct the provision for warranty account.   At the beginning of 2023, Lennox Plumbing Services Pty Ltd had a credit balance of $ 100 000 in its warranty provision account. The warranty expense for the year was $140 000 and the balance of the warranty provision account at the end of the year after adjusting entries was $130 000.   Required (a) Calculate the cost of warranty claims during the period. It may be helpful to reconstruct the warranty provision account. (b) Prepare journal entries to record the warranty claims during the period and end-of-period adjustments to the warranty provision account. Assume that all warranty costs were for the replacement of parts from spare parts inventory.

Show journal, Trial Balance and Balance Sheet Entry for: The business is expected to make principal payments totalling $1,450,000 towards the loan during the fiscal year to December 31, 2022.

On August 1, 2022, Colombo Company’s treasurer signed a note promising to pay $122,700 on December 31, 2022. The proceeds of the note were $116,100. Use the horizontal model to show the effects of recording interest expense for the month of September. Indicate the financial statement effect. What is the discount on notes payable and what is the interest expense?

Accounting question: If you are doing a balance sheet with notes payable of 96,600. Assuming 13,600 of the note payable will be paid the following year. Where are how do you enter it.  Long Term Liability?

Required information [The following information applies to the questions displayed below.] On August 1, 2022, Colombo Company's treasurer signed a note promising to pay $122,400 on December 31, 2022. The proceeds of the note were $116,400. c. 1. Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. 2. Record the journal entry to show the effects of recording interest expense for the month of September. 3. Record the journal entry to show the effects of repaying the note on December 31, 2022. Complete this question by entering your answers in the tabs below. Required C1 Required C2 Required C3 Record the journal entry to show the effects of signing the note and the receipt of the cash proceeds on August 1, 2022. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet < 1

1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021?2. How much interest expense on this note will Montgomery recognize in 2021?(For all requirements, Round your final answers to nearest whole dollar amount