Answer: See explanation
Explanation:
a. The Journal entries to record the issuance of the note will be:
Debit Accounts payable $10000
Credit Notes payable $10000
(To record the issuance of note to creditor)
b. The journal entry to record thehe payment of the note at maturity, including interest will be:
Debit Notes payable $10000
Debit Interest expense $125
Credit Cash $10000 + $125 = $10125
(To record the payment on the note on maturity.
Note:
Interest expense = $10000 × 5% × 90/360
= $10000 × 0.05 × 0.25
= $125
<span>Spain's conquest of central Mexico and the Andes made Spain the wealthiest and most powerful nation because of the abundance of gold and silver which it gained. This large amount of gold and silver it was able to obtain was sent to its national treasuries allowing it to become a threat to any other European competition.</span>
I will definitely feel bad about what happen, try to help if i can by doing fundraising's, going to the family of the included people and donate things for their mental stage. <span />
