Make entries in a notes payable register to document the follow ing events. Show the computation of

Question:

Make entries in a notes payable register to document the follow¬

ing events. Show the computation of the interest and due dates.

Mar. 15 Gave a 30-day, 11 percent note, dated March 15, for $2,500, to Denley Company to apply on account.

Apr. 10 Borrowed $5,000 from Crew State Bank, giving a 90-day, 10.5 per¬

cent note, dated April 10 (received full face value).

14 Paid Denley Company the amount owed on the note of March 15.

Apr. 20 Bought merchandise from Morris, Inc., with a $3,330, 45-day, 10 percent note, dated April 20.

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College Accounting Chapters 1-26

ISBN: 9780395796993

6th Edition

Authors: Douglas J. McQuaig, Patricia A. Bille

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Question Posted: Jun 27, 2024 02:16 AM

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Make entries in a notes payable register to document the follow ing events. Show the computation of

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College Accounting Chapters 1-26

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