FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A long-term notes payable is signed on 1/1/20xx in exchange for $107.000 in cash. Principal in the amount of $16,000 is due annually on 12/31

image text in transcribed
A long-term notes payable is signed on 1/1/20xx in exchange for $107.000 in cash. Principal in the amount of $16,000 is due annually on 12/31 with interest paid monthly. When the loan is originally recorded on 1/1, what is the credit to the long-term notes payable account

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Audit Of Humankind Only Human Can Evaluate Its Action On Earth Our Mid Differentiate Us From Animals Humans Alone Are Capable Of Good And Evil Will We Create Peace And Prosperity Or Conflict And Poverty The Explanation Volume 3

Audit Of Humankind Only Human Can Evaluate Its Action On Earth Our Mid Differentiate Us From Animals Humans Alone Are Capable Of Good And Evil Will We Create Peace And Prosperity Or Conflict And Poverty The Explanation Volume 3

Authors: Sam Kneller

1st Edition

979-8703666173

More Books

Students also viewed these Accounting questions

Question

★★★★★
Shoat that a conic with focus at the origin, eccentricity e, and directrix x = - d has polar equation ed _ e cos

Answered: 1 week ago

Question

★★★★★
You place an order for 1,700 units of Good X at a unit price of $54. The supplier offers terms of 3/15, net 35. a-1. How long do you have to pay before the account is overdue? a-2. If you take the...

Answered: 1 week ago

Question

★★★★★
Monitor and adapt your nonverbal behaviors in conflict situations.

Answered: 1 week ago

Question

★★★★★
The Dinteman Company is an industrial machinery and equipment manufacturer with several production departments. The company employs automated and heavy equipment in its production departments....

Answered: 1 week ago

Question

★★★★★
A long-term notes payable is signed on 1/1/20xx in exchange for $107.000 in cash. Principal in the amount of $16,000 is due annually on 12/31 with interest paid monthly. When the loan is originally...

Answered: 1 week ago

Question

★★★★★
Explain role of depository and non depository institutions for contributing in growth of financial institutions? discuss (20 marks)

Answered: 1 week ago

Question

★★★★★
Which of the following is NOT an external trend that affects the use of mobile marketing? Multiple Choice People use mobile devices multiple times a day. Smartphone and tablets are not as popular as...

Answered: 1 week ago

Question

★★★★★
On the way to work, Anjali reallzed her car was overheating, so she immedlately pulled into a service station to have the problem fixed. Anjali's buying process for the car repair was Influenced by...

Answered: 1 week ago

Question

★★★★★
Frank, a bank teller, is told by the head teller that rapid service is an absolute must from this point forward. However, the bank's community relation's director instructs all employees to focus...

Answered: 1 week ago

Question

★★★★★
The light right-angle boom which supports the 590-kg cylinder is supported by three cables and a ball-and-socket joint at O attached to the vertical x-y surface. Determine the reactions at O and the...

Answered: 1 week ago

Question

★★★★★
Jones Day Care is a Not-For-Profit organization that provides day services for children with disabilities. The following contributions (and expenses) were received by Jones Day Care during the year...

Answered: 1 week ago

Question

★★★★★
What are the advantages and disadvantages of a performance management system? Would such a grading system motivate your classroom performance? Explain.

Answered: 1 week ago

Question

★★★★★
To improve product quality, a company is introducing a computer-assisted manufacturing process into one of its assembly plants. The new technology is likely to substantially modify jobs. Employees...

Answered: 1 week ago

Question

★★★★★
(Appendices) Be familiar with management's responsibilities for reporting on internal control under Section 404 of the Sarbanes-Oxley Act. LO8

Answered: 1 week ago

Previous Question Next Question