Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Instructions A business issued a 45-day, 6% note for $210,000 to a creditor on account Required: Journalize the entries to record (a) the issuance of

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Instructions A business issued a 45-day, 6% note for $210,000 to a creditor on account Required: Journalize the entries to record (a) the issuance of the nofe on January 1 and (b) the payment of the note at maturity, including interest Assume a 360-day year. Refer to the Chart of Accounts for exact wording of account filles Book Show Me How Calculator Journal LE Juma 2. Journalize the only to record the issuance of the note on January 1. Refer to the Chart of Accounts for exact wording of account des JOURNAL DATE CHIO POSTRES DICHT CREDIT 449 D. Journalize the entry to record the payment of the noto at matuny, including forent. Assume a 360-dwy year Refer to the Chart of Accour JOURNAL 2008 PL ournal CATE DESCRIPTION POSTER OLOIT AV 1 Jesumalize the entry to record the payment of the note at malunty, including interest Asume a 360-day year. Refer to the Chart of Accour nios JOURNAL DATE DESCUPTION POSL MET DE CAFE 20 PM 10// bop 8 Journal doumal Chart of Accounts General Ledger ASSETS REVENUE 410 Sales 110 Cash 111 Accounts Receivable 112 Interest Recolvable 610 Interest Revenue EXPENSES 510 Cost of Merchandise Sold 113 Notes Receivable 115 Merchandise Inventory 116 Supplies 118 Prepaid Insurance 120 Land 123 Building 124 Accumulated Depreciation Building 125 Office Equipment 125 Accumulated Depreciation Office Equipment 520 Salaries Expense 524 Depreciation Expanse Building 525 Delivery Expense 526 Repairs Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Office Equipment 533 Insurance Expense do top 6 8 Journal Joumal Chat of Accounts LIABILITIES 210 Accounts Payable 213 Interest Payable 214 Notes Payable 215 Salarios Payable 216 Social Security Tax Payable 217 Medicare Tax Payable 218 Employees Federal Income Tax Payable 219 Employees State Income Tax Payable 221 Retirement Savings Deductions Payable 224 Federal Unemployment Tax Payable 225 State Unemployment Tax Payable 226 Vacation Pay Payable 227 Unfunded Pension Liability 228 Product Warranty Payable 399 FDA in D 534 Supplies Expense 536 Payroll Tax Expense 536 Vacation Pay Expense 537 Pension Expense 538 Cash Short and Over 539 Product Warranty Expense 540 Damage Awards and Fines 541 Miscellaneous Expense 710 Interest Expense 48 8 9

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

Recommended Textbook for

3 Column Record 100 Page Account Book

Authors: IJ Publishing LLC

Ntb Edition

1537091360, 978-1537091365

More Books

Students also viewed these Accounting questions