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I want to make sure I have the correct answering, if not please show me the correct answers. Thank you!!! Record the following note payable
I want to make sure I have the correct answering, if not please show me the correct answers. Thank you!!!
Record the following note payable transactions of Walter Corp. in the company's journal. Round intermediate interest calculations to the nearest cent and final amounts to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any joumal entries.) (Click the icon to view the transactions.) Nov 1, 2018: Purchased equipment costing $15,000 by Issuing a one-year, 4% note payable. General Joumal Date Accounts Debit Credit 2018 Nov 15000 1 Equipment Note payable, short-term 15000 Dec 31, 2018: Accrued interest on the note payable. General Journal Date Accounts Debit Credit Dec 100 31 Interest expense Interest payable 100 Nov 1 2019. Paid the notA navahla at mahiri Record the following note payable transactions of Walter Corp. in the company's journal. Round intermediate interest calculations to the nearest cent and final amounts to the nearest dollar. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) (Click the icon to view the transactions.) Dec 31, 2018: Accrued interest on the note payable Date Debit Credit General Journal Accounts 31 Interest expense Interest payable Dec 100 100 Nov 1, 2019: Paid the note payable at maturity. General Journal Accounts Debit Credit Date 2019 Nov 1 Note payable, short-term 15000 100 Interest payable Interest expense Cash 500 15600Step by Step Solution
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