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On January 1, Year 1 , Brewed Awakening, Inc., borrowed $450,000 at 5% interest. The Ioan will be repaid with equal annual installment payments of
On January 1, Year 1 , Brewed Awakening, Inc., borrowed $450,000 at 5% interest. The Ioan will be repaid with equal annual installment payments of $50,000 made on the last day of each year. The entry to record the second year's payment includes a credit to Cash of $ Round your answer to the nearest dollar. In Year 1, Stock to the Hand, Inc., issued 100,000 shares of the 1,500,000 shares of $0.60 par value common stock it is allowed to sell. The total received from issuing its common stock is $500,000. Stock to the Hand bought back 5,000 shares of its stock at a cost of $7 each. The entry to record the purchase of its stock includes a (Select all that apply.) credit Cash $35,000 debit Additional Paid-in Capital $35,000 credit Common Stock $35,000 debit Treasury Stock $35,000 debit Common Stock $35,000 debit Cash $35,000 credit Treasury Stock $35,000
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