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On December 31, 2020, Bramble Inc. rendered services to Beghun Corporation at an agreed price of $120,418, accepting $47,200 down and agreeing to accept the
On December 31, 2020, Bramble Inc. rendered services to Beghun Corporation at an agreed price of $120,418, accepting $47,200 down and agreeing to accept the balance in four equal installments of $23,600 receivable each December 31. An assumed interest rate of 11% is imputed. Prepare an amortization schedule. Assume that the effective-interest method is used for amortization purposes. (Round answers to O decimal places, e.g. 5,275.) December 31, 2020 Schedule of Note Discount Amortization Cash Received Interest Revenue Discount Amortized Carrying Amount of Note Date 12/31/20 $ 12/31/21 12/31/22 12/31/23 12/31/24 e Textbook and Media List of Accounts Prepare the entries that would be recorded by Bramble Inc. for the sale on December 31, 2020. (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the entries that would be recorded by Bramble Inc. for the (a) receipts and (b) interest on December 31, 2021. (Round answers to O decimal places, eg. 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit Prepare the entries that would be recorded by Bramble Inc. for the (a) receipts and (b) interest on December 31, 2022. (Round answers to O decimal places, eg,5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the entries that would be recorded by Bramble Inc. for the (a) receipts and (b) interest on December 31, 2023. (Round answers to O decimal places, eg,5,275. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit e Textbook and Media List of Accounts Prepare the entries that would be recorded by Bramble Inc. for the (a) receipts and (b) interest on December 31, 2024. (Round answers to 0 decimal places, e.g. 5,275. If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit
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