All categories

2 years ago

The journal entry to record the conversion of a $6,300 accounts payable to a notes payable would be

Business

1 answer:

stira [4]2 years ago

4 0

Dr. bills Payable 6300 Notes Payable 6,300.

The journal entry used for recording the issuance of a note for the cause of converting a current account payable could be to debit the bills payable and credit the notes payable.

A magazine entry is a record of an enterprise transaction for your business books. In double-access bookkeeping, you're making at least two journal entries for each transaction. Because a transaction can create a variety of changes in a commercial enterprise, a bookkeeper tracks them all with magazine entries.

An example of a journal is a diary in which you write about what happens to you and what you are wondering. An example of a journal is the brand new England journal of drugs, wherein new studies are posted which are relevant to docs and medicinal drugs.

Magazine entry format is the usual layout utilized in bookkeeping to maintain a record of all of the organization's business transactions and is especially based totally on the double-access bookkeeping device of accounting and guarantees that the debit aspect and credit facet are usually the same.

The question is incomplete. Please read below to find the missing content.

The journal entry to record the conversion of a $6,300 accounts payable to notes payable would be

A: Cash 6,300

Notes Payable 6,300

B: Notes Receivable 6,300

Notes Payable 6,300

C: Notes Payable 6,300

Cash 6,300

D: Accounts Payable 6,300

Notes Payable 6,300

Learn more about the journal entry herehttps://brainly.com/question/14279491

#SPJ1

You might be interested in

The standard costs and actual costs for direct materials for the manufacture of 1,910 actual units of product are as follows: St

vesna_86 [32]

Answer:

$774 unfavorable

Explanation:

The computation of the direct material quantity variance is shown below:

= Standard Price × (Standard Quantity - Actual Quantity)

= $8.60 × (1,910 kilograms - 2,000 kilograms)

= $8.60 × 90 kilograms

= $774 unfavorable

Since it is unfavorable as it derives that actual quantity is more than the standard quantity and in the case of favorable, the actual quantity is less than the standard quantity

6 0

4 years ago

Consumers regard Dell computers and Apple computers as substitutes. If the price of a Dell computer decreases, the A. supply of

prohojiy [21]

Answer:

B. demand for Apple computers decreases.

Explanation:

If two things are substitute of each and other, that generally in simple words means either this or this. As we can see in the statements that has been provided in the question that Dell and Apple computers are substitute of each other, so if the amount from Dell computer decreases then the demand of the computers made by Apple company will absolutely decrease. 

Because two devices which carries almost same qualities and features are also substitute of each other, if price of one device from the both substitutes will decrease, everyone will rush to buy the device with low price and the device with high price will get less popular among the consumers. So, this is the reason which says OPTION(B) is the correct answer.

7 0

3 years ago

Documents of Trade

BlackZzzverrR [31]

Answer:

Here's ur answer

Explanation:

letter of enquiry
Quotation
receipt
order
delivery note
credit note

Hope it's helpful.. if so mark me as brainlist n thank me also

7 0

3 years ago

Which of the following accurately describes

Setler [38]

Answer:

What accurately describes Shareholder's Equity is all of the above, because it's all just simplified/different terms for investment in one another company's business :3

Explanation:

6 0

3 years ago

it is possible for a hospitality operations at a profit during any given month but simultaneosly have insufficient cash flow dur

belka [17]

Answer:

True

Explanation:

Cash flow is a measure of the available cash and cash equivalent for operation in a business year.It has to be positive to generate value for investors and also to remain in business.

Profit is defined as the excess of income over expenses.

We need to know that profit are calculated on accrual basis, which means that income are recorded when earned and expenses recorded when incurred. In a situation where most sales are on account , i.e no instant cash payment and most expenses are on cash basis, this could cause a deficit in the cash flow volume. The level of inventory held could also lead to a negative cash flow despite a profitable operation if it is too high.

6 0

4 years ago