1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Tanya [424]
3 years ago
9

Entries for Notes Payable A business issued a 45-day, 6% note for $210,000 to a creditor on account. Journalize the entries to r

ecord (a) the issuance of the note and (b) the payment of the note at maturity, including interest. Assume a 360-day year. For a compound transaction, if an amount box does not require an entry, leave it blank. a. fill in the blank 2 fill in the blank 4 b. fill in the blank 6 fill in the blank 7 fill in the blank 9 fill in the blank 10 fill in the blank 12 fill in the blank 13
Business
1 answer:
Alla [95]3 years ago
7 0

Answer:

The journal entry to record the issuance of the note:

Dr Accounts payable 210,000

    Cr Notes payable 210,000

The journal entry to record the payment of the note:

Dr Notes payable 210,000

Dr Interest expense 1,575

    Cr Cash 211,575

Interest expense = $210,000 x 6% x 45/360 = $1,575

You might be interested in
Which of the following groups on the Insert tab contain the command to add WordArt to a publication?
lisabon 2012 [21]

Answer: Text group

Explanation: The Wordart is used for text formatting in Microsoft Word.It enables the addition of different style formatting to a text such as adding a fill, color, shadow, outlines and so on to our text in other to make it look more attractive. The Wordart style is located in the text group of the insert tab menu. The Wordart pull down will be seen where one can choose between the plain or transform style galleries and perform the necessary text formatting.

4 0
3 years ago
Health Maintenance Organizations (HMOs) are MOST LIKELY associated with which of these types of insurance? A) life insurance B)
sleet_krkn [62]

Answer:

.

Explanation:

8 0
4 years ago
Unexpected weather can even have an effect on the business cycle. true or false
gulaghasi [49]
True.................
7 0
3 years ago
Read 2 more answers
Daniela is a 25% partner in the JRD Partnership. On January 1, JRD makes a proportionatedistribution of $16,000 cash, inventory
Olenka [21]

Answer: B. $5,000 inventory, $0 accounts receivable

Explanation:

Daniel's basis in JRD is $21,000

Inventory fair value is $16,000

$21,000 - $16,000 = $5,000

Accounts receivable inside basis is $0.

Inside basis is basically each partner's tax basis in the partnership.

8 0
3 years ago
Suppose the economy is in long-run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes
sergiy2304 [10]

Suppose the economy is in the long run equilibrium. If there is a sharp increase in the minimum wage as well as an increase in taxes then in the short run, real GDP will

  • fall and the price level might rise, fall, or stay the same. In the long run, the price level might rise, fall, or stay the same but real GDP will be lower.

Given that this economy is in the long run equilibrium. Given a sharp increase in minimum wage and taxes, then real GDP will decrease in the short run as well as the price level.

In the long run it may stay the same. But the Real GDP will definitely be lower.

Read more on brainly.com/question/15544413?referrer=searchResults

3 0
3 years ago
Other questions:
  • What would be an appropriate long-term goal for Rafael, a student who wants to be a police officer?
    7·2 answers
  • HELP I AM CONFUSED!!!
    9·1 answer
  • When consumers decide to purchase a music CD from Amazon, the company's website often suggests that consumers purchase an additi
    9·1 answer
  • A product manager is eager to develop a new product idea. To gain approval to do so, the product manager orders the research tea
    8·1 answer
  • Utica Company’s net accounts receivable was $250,000 at December 31, 2016, and $300,000 at December 31, 2017. Net cash sales for
    6·2 answers
  • Momentous Occasions is a photography business that shoots videos at college parties. The freshman class pays​ $1,000 in advance
    8·1 answer
  • Barnette Inc.'s free cash flows are expected to be unstable during the next few years while the company undergoes restructuring.
    6·1 answer
  • Do you think that some people have difficulty talking to others face-to-face because of how prevalent texting is today? When you
    12·1 answer
  • Nair Corp. enters into a contract with a customer to build an apartment building for $1,000,000. The customer hopes to rent apar
    14·1 answer
  • 3. A 9.3% annual coupon bond with a 10-year maturity and a $1,000 par value has a yield to maturity of 8%. Assuming that the yie
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!