1.) Give me Debt Inc. borrows a $12,000 note with 22% interest and 120 days until maturity on May 1st, 2020.

Make the journal entry when Give me Debit Inc. first borrows the note on May 1st, 2020:

Make the journal entry when the note matures and Give me Debit Inc. has to pay it back:

2.) We Hate Eachother Partnership has two partners, Hans and Gretal. Hans has an existing capital balance as of January 1st of $10,000 while Gretal has a balance of $15,000. Each partner gets a monthly salary of $500, and also receive 2% of their start of their year capital balance as an extra share of income. The partnership had net income of the year of $30,000. All remaining net income after any necessary allocations is split evenly. Make the journal entry showing the distribution of net income to each partners capital account:

3.) Hans and Gretal now have a new partnership where they have a capital balance of $20,000 and $28,000 respectively. Goldilocks wants to join the partnership and pays $25,000 for a 1/3 share of the partnership. Journalize the necessary entry to show Goldilocks joining the partnership and either the increase or decrease to Hans and Gretal's capital balances.

4.) Winnie the Pooh Inc. issues 5,000 shares of $2 par common stock for $75 a share and 10,000 shares of $6 par preferred stock for $88 dollars per share. Journalize the issuance of these stocks:

5.) Winnie the Pooh Inc. the most generous of the companies declares a $200,000 cash dividend on April 1st, 2020. The company has 10,000 shares of $5 par common stock with a market value of $25 per share and 20,000 shares of $10 par 8% preferred stock with a $60 market value per share. The preferred stock is cumulative, and dividends were not paid in 2019. The date of record is April 20th, and the payment date is April 29th. Make the necessary journal entry showing exactly which shareholders will receive how much of each dividend, also be sure to perform the correct entry on the correct date: April 1st, 2020 journal entry: April 20th, 2020 journal entry: April 29th, 2020 journal entry: