Borrow 114,000 from Captive Credit Corporation the storm and no bears interest at 5% and Julia matures in five years payments of $2151 are required at the end of each month for 60 months record the issuance of the long-term no payable

On January 1, Year 1, the general ledger of Company A includes the following account balances: Accounts Debit Credit Cash $ 12,600 Accounts Receivable 36,800 Inventory 153,480 Land 81,300 Buildings 134,000 Allowance for Uncollectible Accounts $ 3,200 Accumulated Depreciation 11,000 Accounts Payable 33,100 Common Stock 214,000 Retained Earnings 156,800 Totals $418,100 $418,100 During January Year 1, the following transactions occur. January 1 Borrow $114,000 from Company B Corporation. The installment note bears interest at 5 annually and natures in 5 years. Payments of $2,151 are required at the end of each month for 60 months. January 4 Receive $32,480 from customers on accounts receivable. January 10 Pay cash on accounts payable, $25,000. January 15 Pay cash for salaries, $30,300. January 30 Firework sales for the month total $201.460. Sales include $66,400 for cash and $135,000 on account. The cost of the units sold is $119,500. January 31 Pay the first monthly installent of $2,151 related to the $114,688 borrowed on January 1. Round your interest calculation to the nearest dollar. The following information is available on January 31, Year 1. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building wat purchased, the company estimated a service life of 10 years and a residual value of $25,400. b. The company estimates future uncollectible accounts. The company determines $4,400 of accounts receivable on January 31 are past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 2% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger) c. Unpaid salaries at the end of January are $27,500 d. Accrued Income taxes at the end of January are $9.400. e. $20.669 of the lono-term note pavable balance will be paid over the next vear On January 1, Year 1, the general ledger of Company A includes the following account balances: Accounts Debit Credit Cash $ 12,600 Accounts Receivable 36,800 Inventory 153,480 Land 81,300 Buildings 134,000 Allowance for Uncollectible Accounts $ 3,200 Accumulated Depreciation 11,000 Accounts Payable 33,100 Common Stock 214,000 Retained Earnings 156,800 Totals $418,100 $418,100 During January Year 1, the following transactions occur. January 1 Borrow $114,000 from Company B Corporation. The installment note bears interest at 5 annually and natures in 5 years. Payments of $2,151 are required at the end of each month for 60 months. January 4 Receive $32,480 from customers on accounts receivable. January 10 Pay cash on accounts payable, $25,000. January 15 Pay cash for salaries, $30,300. January 30 Firework sales for the month total $201.460. Sales include $66,400 for cash and $135,000 on account. The cost of the units sold is $119,500. January 31 Pay the first monthly installent of $2,151 related to the $114,688 borrowed on January 1. Round your interest calculation to the nearest dollar. The following information is available on January 31, Year 1. a. Depreciation on the building for the month of January is calculated using the straight-line method. At the time the building wat purchased, the company estimated a service life of 10 years and a residual value of $25,400. b. The company estimates future uncollectible accounts. The company determines $4,400 of accounts receivable on January 31 are past due, and 50% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 2% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger) c. Unpaid salaries at the end of January are $27,500 d. Accrued Income taxes at the end of January are $9.400. e. $20.669 of the lono-term note pavable balance will be paid over the next vear