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On November 1, 2021, New Morning Bakery signed a $206,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later
On November 1, 2021, New Morning Bakery signed a $206,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. New Morning Bakery records the appropriate adjusting entry for the note on December 31, 2021. What amount of cash will be needed to pay back the note payable plus any accrued interest on May 1, 2022? (Do not round your intermediate calculations.) $211,150. $206,000. $207,030. $212,180. Strikers, Inc. sells soccer goals to customers over the Internet. History has shown that 4% of Strikers' goals will need repair under the warranty program. For the year, Strikers has sold 4,000 goals and 50 have been repaired. If the estimated cost to repair a goal is $110, what would be the Warranty Liability at the end of the year? Multiple Choice $12,150 10 0 0 0 $17,600. $0. $12,100
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