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Eskimo Joe's, designer of the world's second best-selling T-shirt (behind Hard Rock Cafe, borrows $19.5 million cash on November 1, 2024. Eskimo Joe's signs a
Eskimo Joe's, designer of the world's second best-selling T-shirt (behind Hard Rock Cafe, borrows $19.5 million cash on November 1, 2024. Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National Bank under a prearranged short-term line of creditInterest on the note is payable at maturityEach firm has a December 31 year-end Required: 1. Prepare the journal entries on November 12024, to record (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank 2. Record the adjusting entry on December 312024, for (a) Eskimo Joe's and (b) Stillwater National Bank 3. Prepare the journal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank
Complete this question by entering your answers in the tabs below. Prepare the joumal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. (Do not round intermedlate calculations, if no entry is required for a transaction/event, select "No ) lournal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For oxample, $5.5 million should be entered as 5,500,000. Show less. Journal entry worksheet 2 Record the repayment of the note at maturity for Eskimo Joe's. Notei Cnter debits before credits. Complete this question by entering your answers in the tabs below. Propare the journal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes recelvable for Stillwater National Bank. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in doliars, not in millions. For example, $5.5 million should be entered as 5,500,000. Show less A Journal entry worksheet Record the receipt of cash at maturity for Stillwater National Bank. Notei Enter debits before credits. tskimo Joe's, designer of the world's second best-selling I-shirt (just behind Hard Kock (ate), borrows $19.5 million cash on November 1,2024. Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National Bank under a prearranged short-te line of credit. Interest on the note is payable at maturity. Each firm has a December 31 year-end. Required: 1. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes recelvable Stillwater National Bank. 2. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stiliwater National Bank. 3. Prepare the journal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes recelvable for Stiliwater National Bank. Complete this question by entering your answers in the tabs below. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stillwater National Bank. (Do not round intermediate calculations. If no entry is required for a transaction/event, solect "No Journal Entry Required" in the first account field, Enter your answers in dollars, not in millions. For example, 55.5 million should be entered as 5,500,000.) Journal entry worksheet Record the adjusting entry for interest for Stillwater National Bank. Hote: Enter debits before credits. tskimo Joe's, designer of the world's second best-selling I-shirt (just behind Hard Kock Cafe), borrows \$19. 5 million cash on November 1, 2024. Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National Bank under a prearranged short-ter line of credit Interest on the note is payable at maturity. Each firm has a December 31 year-end. Required: 1. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes recelvable Stillwater National Bank. 2. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stillwater National Bank. 3. Prepare the journal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. Complete this question by entering your answers in the tabs below. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stllwater National Bank. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in miltions. For example, $5.5 milliton should be entered as 5,500,000.) Journal entry worksheet 2 Record the adjusting entry for interest for Eskimo Joe's. Notei Lnter debits before credits. tskimo Joe's, designer of the world s second best-selling I-shirt (just behind Hard Kock Care), borrows \$19.b million cash on November 1, 2024, Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National Bank under a prearranged short-term ine of credit. Interest on the note is payable at maturity. Each firm has a December 31 year-end. Required: 1. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. 2. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stillwater National Bank. 3. Prepare the journal entries on April 30, 2025, to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stllwater National Bank. Complete this question by entering your answers in the tabs below. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. (if no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Enter your answers in dollars, not in millions. For example, $5.5 million should be entered as 5,500,000.) Journal entry worksheet Record the acceptance of the note by Stilwater National Bank. Note: Enter debits before credits. tskimo Joe's, designer of the world's second best-selling I-shirt (just behind Hard Kock Care), borrows \$19.5 million cash on November 1, 2024, Eskimo Joe's signs a six-month, 9% promissory note to Stillwater National Bank under a prearranged short-term line of credit. Interest on the note is payable at maturity. Each firm has a December 31 year-end. Required: 1. Prepare the journal entries on November 1,2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stlliwater National Bank. 2. Record the adjusting entry on December 31, 2024, for (a) Eskimo Joe's and (b) Stillwater National Bank. 3. Prepare the journal entries on April 30,2025 , to record payment of (a) the notes payable for Eskimo Joe's and (b) the notes receivable for Stillwater National Bank. Complete this question by entering your answers in the tabs below. Prepare the journal entries on November 1, 2024, to record (a) the notes payable for Eskimo Joe's and (b) the notes recelvable for Stillwater National Bank. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field. Enter your answers in dollars, not in milions. For example, 55.5 million should be entered as 5,500,000.) Journal entry worksheet Step by Step Solution
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