=+Prepare the Current Liabilities section of the balance sheet for I-Generation Co. on March 31, 2011. EX

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=+Prepare the Current Liabilities section of the balance sheet for I-Generation Co. on March 31, 2011.

EX 11-1 Current liabilities obj. 1

✔ Total current liabilities, $790,000 U-Build It Warehouse issues a 45-day note for $800,000 to Thomson Home Furnishings Co. for merchandise inventory. Thomson Home Furnishings Co. discounts the note at 7%.

a. Journalize U-Build It Warehouse’s entries to record:

1. the issuance of the note.

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ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

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=+Prepare the Current Liabilities section of the balance sheet for I-Generation Co. on March 31, 2011. EX

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