a) On 10/19/21 Your Co. loaned X Co. $48000 on a 7.3% 90 day note. Record the journal entries at issuance, year end, and maturity. Assume interest is paid at maturity and the 365 day convention is used. General Journal Account/Explanation PR Debit Credit Date 10/19/21 (X Co. $48000 7.3% 90 day note) 12/31/21 (Accrue interest) (Maturity of note) b) On 4/1/21 Your Co. loaned Y Co. $64000 on a 6% 5 year note. Record the journal entries at issuance, year end, and when the annual interest payment is received. Assume the monthly convention is used. General Journal Date Account/Explanation PR Debit Credit 4/1/21 (Y Co. $64000 6% 5 year note) 12/31/21 (Accrue interest) 4/1/22 (Interest payment received) On 11/19/21 Your Co. loaned J Co. $80000 on a 12% 60 day note. Record the journal entries c) On 11/19/21 Your Co. loaned J Co. $80000 on a 12% 60 day note. Record the journal entries at issuance, year end, and maturity. Assume interest is paid at maturity and the 360 day convention is used. General Journal Date Account/Explanation PR Debit Credit 11/19/21 (1 Co. $80000 12% 60 day note) 12/31/21 (Accrue interest) X (Maturity of note) On 8/1/21 Your Co. loaned L Co. $ 40000 on a 12% 3 year note. Record the journal entries at d) On 871721 Your Co. loaned L Co. $ 40000 on a 12% 3 year note. Record the journal entries at issuance, year end, and when the annual interest payment is received. Assume the monthly convention is used. General Journal Date Account/Explanation PR Debit Credit 8/1/21 X X X > IL Co. $ 40000 12% 3 year note) 12/31/21 xx X (Accrue interest) 8/1/22 X X X (Interest payment received) On 12/18/21 Your Co. loaned K Co. $72000 on a 14.6% 30 day note. Record the journal Mind the 365 C D H E LISTELE POWWCISTELE e) On 12/18/21 Your Co. loaned K Co. $72000 on a 14.6% 30 day note. Record the journal entries at issuance, year end, and maturity. Assume interest is paid at maturity and the 365 day convention is used. General Journal Date Account/Explanation PR Debit Credit 12/18/21 x x x x (K Co. $72000 14.6% 30 day note) X 12/31/21 X X X X (Accrue interest) X X X X X X (Maturity of note) On 10/5/21 Your Co. loaned Z Co. $56000 on a 9% 60 day note. Record the journal entries at issuance and maturity. Assume interest is paid at maturity, the 360 day convention is used, and no previous adjusting entries were made. General Journal Date Account/Explanation PR Debit Credit 10/5/21 (z Co. $56000 9% 60 day note) (Maturity of note) 2 N 3 5
