AC116 Unit 4 Lab Assignment Question 10 of 12 View Policies Current Attempt in Progress These are selected transactions of Vaughn Company. Vaughn prepares financial statements quarterly /4 1 Purchased merchandise on account from Nunez Company $40,000, teres 2/30, 30, (Vaughn uses the perpetual in Issued a 9%, 2-month, $40,000 note to Nunez in payment of account Accrued interest for 2 months on Nunez note Jan 2 Feb 1 Mar 31 Apr 1 Paid face value and interest on Nunez note July 1 Purchased equipment from Marson Equipment paying $10.500 in cash and signing a 30%, 3-month $68,400 Sept 30 Accrued interest for 3 months on Marson note Oct 1 Paid face value and interest on Marson Dec 1 Borrowed $27,600 from the Paola Bank by issuing a 3-month 8% note with a face value of $27.500 Dec 31 Recognized interest expense for 1 month on Paola Banknote (a) AC116 Unit 4 Lab Assignment Question 10 of 12 2 -/4 = 1 Prepare journal entries for the lated transactions and events (Credit account titles are automatically indented when t is entered. De not indent manually Record journal entries in the under presented in the problem Date Account Titles and Explanation I MacBook Air Debit Credit AC116 Unit 4 Lab Assignment Question 10 of 12 4 14 E MacBook Ar Question 10 of 12 (h Post to the accounts Notes Payablets Payable and interest Expetenties in the der of presented in the previs part Notes Payable Interest Payable MacBook Air /4 1 Le ecco nec + AC116 Unit 4 Lab Assignment Question 10 of 12 > -14 1 eTextbook and Media List of Accounts MacBook Air Asistence Un Attempts of Sused AC116 Unit 4 Lab Assignment Question 10 of 12 3) Show the balance sheet presentation of nates and interest December Vaughn Company Balance Sheet (Partial) eTextbook and Medi Textbook book2 a : MacBook Air at " And Lad Assignment Question 10 of 12 > Save for Later What is total interest expense for the year? Total interest $ eTextbook and Media Testbook 11 Textbook 2 List of Accounts MacBook Air 14 1 Attempts of 5 used S Assistance Used Attempts of 5 used Tole Acco unec Jan 2 Feb 1 Mar 31 Question 10 of 12 View Policies Current Attempt in Progress < > These are selected transactions of Vaughn Company Vaughn prepares financial statements quarterly -/4 EI Purchased merchandise on account from Nunez Company, $40,000, terms 2/10, n/30. (Vaughn uses the perpetual in Issued a 9%, 2-month, $40,000 note to Nunez in payment of account. Accrued interest for 2 months on Nunez note. Apr. 1 Paid face value and interest on Nunez note July 1 Sept 30 Purchased equipment from Marson Equipment paying $10,500 in cash and signing a 10%, 3-month, $68,400 note. Accrued interest for 3 months on Marson note. Oct. 1 Paid face vabe and interest on Marson note. Dec. 1 Borrowed $27,600 from the Paola Bank by issuing a 3-month, 8% note with a face value of $27,600. Dec. 31 Recognized interest expense for 1 month on Paola Bank note. (a) AC116 Unit 4 Lab Assignment Question 10 of 12 < Man A -/4 1 Prepare journal entries for the listed transactions and events. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Acco Question 10 of 12 3 (b) -14 1 Post to the accounts Notes Payable, Interest Payable, and interest Expense (Past entries in the order of journal entries presented in the previous part) Notes Payable Interest Payable MacBook Air (c) Save for Later Show the balance sheet presentation of notes and interest payable at December 31 Vaughn Company Balance Sheet (Partial) eTextbook and Media Textbook 1 MacBook Air -/41 Attempts 0 of 5 used Submit A Assistance Used Save for Later (d) What is total interest expense for the year? Total interest eTextbook and Media eTextbook 1 eTextbook 2 List of Accounts Save for Later MacBook Air -/4 1 Attempts: 0 of 5 used Sub Assistance Used Attempts: 0 of 5 used Submit Ar (a) Prepare journal entries for the listed transactions and events. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (b) Post to the accounts Notes Payable. Interest Payable, and Interest Expense. (Post entries in the order of journal entries presented in the previous part.) Notes Payable Interest Payable P (c) Show the balance sheet presentation of notes and interest payable at December 31. Vaughn Company Balance Sheet (Partial) eTextbook and Media Assistance Used (d) What is total interest expense for the year? Total interest $ eTextbook and Media. List of Accounts Save for Later Assistance Used Attempts: 0 of 5 used Submit