HW10 1 2 points eBook Hint Print References Bryant Company sells a wide range of inventories, which are initially purchased on account. Occasionally, short-term notes payable are used to obtain cash for current use. The following transactions were selected from those occurring during the year: a. On January 10, purchased merchandise on credit for $18,500. The company uses a perpetual inventory system. b. On March 1, borrowed $41,000 cash from City Bank and signed a promissory note with a face amount of $41,000, due at the end of six months, accruing interest at an annual rate of 8.50 percent, payable at maturity. Required: 1. For each of the transactions, indicate the accounts, amounts, and effects on the accounting equation. 2. What amount of cash is paid on the maturity date of the note? 3. Indicate the impact of each transaction (increase, decrease, and no effect) on the debt-to-assets ratio. Assume Bryant Company had $310,000 in total liabilities and $510,000 in total assets, yielding a debt-to-assets ratio of 0.61, prior to each transaction. Saved Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What amount of cash is paid on the maturity date of the note? Cash Paid Check my work

Bryant Company sells a wide range of irwenteries, which are initialy purchased on account. Occasionally, shortterm notos payable are used 10 obtain cash for current vve. The folowing tansactions were selected from those occurring during the year a. On Janubly 10, purchased merchandise on credit for $18,500. The company uses a perpetual inwentory sntem b. On March 1, borrowed $41000 cash from City Bank and signed a promssory note whth a face amount of 541,000 , due at the eod of six months, accruing interest at an annusl tate or 850 percent, payable at matutiay Fequired: 1. For each of the iramactions, indicate the accounts, ameunts, and effects on the accounting equation 3. Indicale the impact of each trensacton fncrease, decreate, and no effect on the debt to assets ratia Assume Bryant Company had 2. What ainount of cash is pole on the maturily date of the note? $310,000 in total bablities and $5 to,000 in total assets, yeiding a debt-10-assets ratio of o 61 , grior to each transection. Complete this quevion by entering yeur answers in the tabs betow. What a anoyst of esit is gata on the maturity dage of the