1 Current and Contingent Liabilities 2 Record note payable transactions 4 Dean Sales Company completed the following note payable transactions 2018 Jul 1 Purchased delivery truck costing $ Dec 31 Accrued interest on the note payable 58,000 by issuing a one-year, 4% note payable 10 2019 Jul 1 Paid the note payable at maturi 12 13 Use the blue shaded areas on the ENTERANSWERS tab for inputs Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instruction tab you will be marked 14 wrong 15 16 Requirements 17 18 19 20 21 22 Saving & Submitting Solution 23 24 25 26 27 28 29 30 31 32 33 Viewing Results 34 35 36 37 38 39 40 41 42 43 1 How much interest expense must be accrued at December 31, 2018? 2 Determine the amount of Dean Sales' final payment on July 1, 2019 3 How much interest expense will Dean Sales report for 2018 and for 2019? 1 Save file to desktop Create folder on desktop, and label COMPLETED EXCEL PROJECTS Save your solution in the folder you just created; add -solution-date to end of file name 2 Upload and submit your file to be graded Navigate back to the activity window - screen where you downloaded the initial spreadsheet Click Choose button under step 3; locate the file you just saved and click Open Click Upload button under step 3 Click Submit button under step 4 1 Click on Results tab in MyAccountinglab 2 Click on the Assignment you were working on 3 Click on Project link; this will bring up your Score Card 4 Within Score Card window, click on Live Comments Report (lower right) to download spreadsheet with feedback INSTRUCTIONS ENTERANSWERS + 11. How much interest expense must be accrued at December 31, 2018? (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste 2 from the Instruction tab you will be marked wrong.) Accrued interest, Dec. 31, 2018 6 2. Determine the amount of Dean Sales' final payment on July 1, 2019 (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste 7 from the Instruction tab you will be marked wrong.) 9 Final payment on July 1, 2019 10 11 3. How much interest expense will Dean Sales report for 2018 and for 2019? (Always use cell references and formulas where appropriate to receive full credit. If you copy/paste 12 from the Instruction tab you will be marked wrong.) 13 14 Interest expense for 2018 15 Interest expense for 2019 16 17 18 19 20 21 23 24 25 26 27 28 29 30 31 32 34 35 36 37 38 39 40 41 INSTRUCTIONS ENTERANSWERS+