FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Listen A company lends money on a 140-day, 14% note for $18,000. What is the correct journal entry to record the note receivable? a) b)

Listen A company lends money on a 140-day, 14% note for $18,000. What is the correct journal entry to record the note receivable? a) b) Note Receivable Cash d) Interest Cash c) Cash Note Receivable Cash Note Payable Previous Page Next Page 18,000 18,000 18,000 18,980 18,000 18,000 18,000 18,980 Page 23 of 24
image text in transcribed
A company lends money on a 140-day. 14% note for $18,000. What is the correct journal entry to record the note reccivable

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

Energy Audits A Workbook For Energy Management In Buildings

Energy Audits A Workbook For Energy Management In Buildings

Authors: Tarik Al-Shemmeri

1st Edition

0470656085, 978-0470656082

More Books

Students also viewed these Accounting questions

Question

★★★★★
Approximately 76% of baby boomers aged 43 to 61 are still in the workforce (The Boston Globe, July 10, 2008). Six baby boomers are selected at random. a. What is the probability that exactly one of...

Answered: 1 week ago

Question

★★★★★
A company purchased 1,000 shares of treasury stock for $38,000 cash. The shares were initially issued for $24,000 and had a $9,000 par value. Which of the following statements incorrectly describes...

Answered: 1 week ago

Question

★★★★★
36. A sample of 26 offshore oil workers took part in a simulated escape exercise, resulting in the accompanying data on time (sec) to complete the escape (Oxygen Consumption and Ventilation During...

Answered: 1 week ago

Question

★★★★★
On June 30, 2006, County Company issued 12% bonds with a par value of $800,000 due in 20 years. They were issued at 98 and were callable at 104 at any date after June 30, 2014. Because of lower...

Answered: 1 week ago

Question

★★★★★
Listen A company lends money on a 140-day, 14% note for $18,000. What is the correct journal entry to record the note receivable? a) b) Note Receivable Cash d) Interest Cash c) Cash Note Receivable...

Answered: 1 week ago

Question

★★★★★
1.The tax benefits of a health savings account (HSA) plan can be measured by A.Take-home pay and retirement account balance changes. B.Tax return results and HSA account balance changes. C. Reduced...

Answered: 1 week ago

Question

★★★★★
This option is correct his conclusion is drawn from Tom's statement that he has consistently outperformed the market averages by at least 2 percent each year and has not once lost money. His...

Answered: 1 week ago

Question

★★★★★
Use macof on the Parrot Security machine to perform MAC flooding on the Windows 1 1 target machine. What is the default size of the IP packets that macof uses to flood the CAM table with random MAC...

Answered: 1 week ago

Question

★★★★★
The KL Partnership is owned equally by Kayla and Lisa. At the beginning of the year, Kaylas basis is $20,000 and Lisas basis is $16,000. Partnership debt did not change from the beginning to the end...

Answered: 1 week ago

Question

★★★★★
Determine the ending balance of each of the following T-accounts. a. b. Cash 100 300 20 Accounts Payable 2,000 2.700 50 60 8,000 Supplies 10,000 1,100 3,800 d. Wages Payable Cash Accounts Receivable...

Answered: 1 week ago

Question

★★★★★
As examiners consider whether the use of remote administration of standardized achievement and intelligence tests is appropriate for each child under their care, issues of _____________ must be...

Answered: 1 week ago

Question

★★★★★
To whom might an entrepreneur present his or her business plan? Why? (Objective 4)

Answered: 1 week ago

Question

★★★★★
Assume you want to start a business in the community in which your school is located. What resources are available to youlocally or through the Internetas you approach the task of drafting a business...

Answered: 1 week ago

Question

★★★★★
A student organization to which you belong recently returned from its national conference. One of the highlights of the conference was announcement of Chapter of the Yearand your group won! Prepare...

Answered: 1 week ago

Previous Question Next Question