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Progress Concord Corporation had the following transactions involving notes payable. July 1, 2020 Nov. 1, 2020 Dec 31, 2020 Borrows $52,000 from First National Bank by signing a 9-month, 8% note Borrows $62.400 from Lyon County State Bank by signing a 3-month, 6% note. Prepares adjusting entries Pays principal and interest to Lyon County State Bank Pays principal and interest to First National Bank Feb. 1.2021 Apr. 1.2021 Prepare journal entries for each of the transactions. (Credit account titles are automatically indented when amount is entered, Do not indent manually. Record journal entries in the order presented in the problem.) Account Titles and Explanation Debit Credit Date (To record adjusting entry for First National Bank note) (To record adjusting entry for Lyon County State Bank note) 1 Wildhorse Co.enters sales and sales taxes separately in its cashregister. On April 10, the register totals are sales $38,500 and sales taxes $1.925 Pharoah Company does not segregate sales and sales taxes. Its register total for April 15 is $24,380, which includes a 6% sales 2 tax Prepare the entry to record the sales transactions and related taxes for each client (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Date Debit Credit Account Titles and Explanation Wildhorse Co Pharoah Company 2 Season tickets for the Dingos are priced at $240 and include 12 home games. An equal amount of revenue is recognized after each game is played. When the season began the amount credited to Unearned Ticket Revenue was $1.416,000. By the end of October 5826,000 of the Unearned Ticket Revenue had been recognized as revenue (a) How many season tickets did the Dingos selle Season tickets sold by Dingos e Textbook and Media List of Accounts Sive for later Attempts:O of 3 used Submit A (b) The parts of this question must be completed in order. This part will be available when you complete the part above Blue Spruce's gross earnings for the week were $2,000, his federal income tax with holding was $340, and his FICA total was $153. What was Blue Spruce's net pay for the week? Blue Spruce's not pay for the week eTextbook and Media List of Accounts Journalize the entry for the recording of his pay in the general journal (Note: Use Salaries and Wages Payable: not Cash) (Credit accounts titles are automatically indented when the amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Record the issuing of the check for Blue Spruce's pay in the general journal (Credit accounts titles are outomatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit On January 1, 2020, Metlock, Inc. issued $554,500,14%, 10-year bonds at face value. Interest is payable annually on January 1. (a) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1 (b) Prepare the journal entry to record the accrual of interest on December 31, 2020. (Credit account titles are automatically Indented when amount is entered. Do not indent manually.) Date Account Titles and explanation Debit Credit Dec 31 Ich (c) Prepare the journal entry to record the payment of interest on January 1, 2021. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan 1 e Textbook and Media List of Accounts Save for later Marigold Corp, issued $530,000 of 5-year, 5% bonds at 99 on January 1, 2020. The bonds pay interest annually (a 1) Prepare the journal entry to record the issuance of the bonds. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Sveforlater Attempts:0 of 3 used Submit Answer Larkspur, Inc. receives $300,000 when it issues a $300,000, 7%, mortgage note payable to finance the construction of a building at December 31, 2020. The terms provide for annual installment payments of $50,000 on December 31. Prepare the journal entries to record the mortgage loan and the first two payments. (Round answers to decimal places, 6.8. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Debit Credit Question 9 of 10