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Help with number 2 would be greatly appreciated 6 Exercise 5-16A Record notes payable and interest expense (LO5-7) 0.85 points On March 1, Terrell &
Help with number 2 would be greatly appreciated
6 Exercise 5-16A Record notes payable and interest expense (LO5-7) 0.85 points On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,700. In payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Answer is not complete. General Journal No Date Credit Debit 10,700 March 01 Legal Fees Expense Notes Payable 10,700 2. September 01 11,235 Cash Notes Payable Interest Revenue 10,700 535 6 Exercise 5-16A Record notes payable and interest expense (LO5-7) .85 oints On March 1, Terrell & Associates provides legal services to Whole Grain Bakery regarding some recent food poisoning complaints. Legal services total $10,700. In payment for the services, Whole Grain Bakery signs a 10% note requiring the payment of the face amount and interest to Terrell & Associates on September 1. Required: For Whole Grain Bakery, record the issuance of the note payable on March 1 and the cash payment on September 1. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) eBook Hint View transaction list Print Journal entry worksheet References Record the payment of note payable and interest. Note: Enter debits before credits. Date General Journal Debit Credit September 01 Notes Payable Record entry Clear entry View general journalStep by Step Solution
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