Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For general journal entry name: Accounts payable Accrued payroll payable Bonus payable Cost of goods sold Cash Deferred income tax liability Earned services revenue Earned

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
For general journal entry name:
Accounts payable
Accrued payroll payable
Bonus payable
Cost of goods sold
Cash
Deferred income tax liability
Earned services revenue
Earned ticket revenue
Employee bonus expense
Employee fed inc.taxes payable
Employee life insurance payable
Employee medical insurance payable
Employee union dues payable
Estimated warranty liability
Federal unemployment taxes payable
FICA-Medicare taxes payable
FICA-Medicare Social sec.taxes payable
Income taxes expense
Income taxes payable
Interest expense
Interest payable
Merchandise inventory
Notes payable
Office salaries expense
Payroll taxes expense
Repair parts inventory
Salaries payable
Sales
Sales salaries expense
Sales taxes payable
State unemployment taxes payable
Unearned ticket revenue
Unearned service revenue
Vacation benefits expense
Vacation benefits payable
Wages expense
Warranty expense
Keesha Co borrows $125,000 cash on November 1, 2016, by signing a 120-day, 11% note with a face value of $125,000. 1. On what date does this note mature? (Assume a 365 day year) OMarch 27, 2017 O March 28, 2017 O March 29,2017 O March 30,2017 O March 01,2017 2. & 3. What is the amount of interest expense in 2016 and 2017 from this note? (Use 360 days a year. Do not round intermediate calculations.) through maturity Expense 2016 Expense 2017 O Type here to search

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

Students also viewed these Accounting questions