Homework 11 Short Term Liabilities Calculate the Interest due at maturing for each of the following Mates: Note A Note Principal 10,000 10,000 Term 90 Days Interest Rate 8% 10% Notec 10,000 60 Days 120 days 12% Note A Interest due Note B Interest Due Note Cinterest Due Prepare the Journal entry to record each of the notes at issuance. Note A DR: CR: Note B DR: CR: Natec DR: CR: Prepare the journal entry to record the retirement of each note Nate A DR: DR: CR: Note B DR: DR: CR: Note C DR: DR: CR: 11/16/2020 Homework 11 Short Term Labiles Use the information below to answer each of the questions Date of issuance Principal Term Interest Rate 10,000 120 Days SK On which date must the note be repald? What is the total amount of Interest to be repaldat maturity (round to the nearest dollar)? What is the total Interested incurred as of 12/31/2020 (round to the nearest dollar? Prepare the Joumal entry to record the issuance of the note. Prepare the Adjusting Journal Entry to reord Interst expense at 12/21/2020. Prepare the journal entry to record the payoff of the note at maturity assumine interest was accrued at 12/31/2020). 10/31/2020 Homework 11 Short Term abilities Use the information below to answer each of the questions Date of Issuance Principal Term Interest Rate 10,000 90 Day 6X On which date must the note be repald? What is the total amount of Interest to be repaidat maturity fround to the nearest tollar)? What is the total interested incurred as of 12/31/2020 fround to the nearest dollar? Prepare the Journal entry to record the issuance of the note. Prepare the Adjusting Journal Entry to reord Interst expense at 12/11/2020 Prepare the journal entry to record the payoff of the note at maturity (assuming interest was accrued at 12/31/2020). 7/15/2020 Homework 11 Short Term Liabilities Use the information below to answer each of the questions Date of issuance Principal Term Interest Rate 10,000 180 Days 12% On which date must the note be repald? What is the total amount of interest to be repaldat maturity fround to the nearest dollar)? What is the total interested incurred as of 12/31/2020 fround to the nearest dollar)? Prepare the journal entry to record the issuance of the note. Prepare the Adjusting Journal Entry to reord interst expense at 12/31/2020. Prepare the journal entry to record the payoff of the note at maturity (assuming interest was accrued at 12/31/2020). 7/1/2020 Homework 11 Short Term Llabilities Use the information below to answer each of the questions Date of issuance Principal Term Interest Rate 10,000 180 Days 12% On which date must the note be repaid? What is the total amount of interest to be repaidat maturity fround to the nearest dollar)? What is the total Interested incurred as of 12/31/2020 (round to the nearest dollar)? Prepare the journal entry to record the issuance of the note. Prepare the Adjusting Journal Entry to record Interst expense at 12/31/2020 Prepare the journal entry to record the payoff of the note at maturity (assuming interest was accrued at 12/31/2020)
