On October 1, Blossom Computers borrows $74200 from Provincial Bank on a $74200, 3 month, 6 note Assuming interest was accrued at December 31, the entry by Blossom Computers to record payment of the note and accrued interest on January 1 is Notes Payable 75313 Cash 75313 Notes Payable 74200 Interest Payable 1113 Cash 75313 Notes Payable 74200 Interest Payable 4452 Cash 78652 Notes Payable 74200 Interest Expense 1113 Cash 75313

Question

On October 1, Blossom Computers borrows $74200 from Provincial Bank on a $74200, 3 month, 6  note  Assuming interest was accrued at December 31, the entry by Blossom Computers to record payment of the note and accrued interest on January 1 is  Notes Payable 75313 Cash 75313 Notes Payable 74200 Interest Payable 1113 Cash 75313 Notes Payable 74200 Interest Payable 4452 Cash 78652 Notes Payable 74200 Interest Expense 1113 Cash 75313

Accepted Answer

The Answer is in the image, click to view ...

On October 1, Blossom Computers borrows $74200 from Provincial Bank on a $74200, 3-month, 6% note. Assuming

Question:

Intermediate Accounting

On October 1, Blossom Computers borrows $74200 from Provincial Bank on a $74200, 3-month, 6% note. Assuming

Question:

Expert Answer:

The Answer is in the image, click to view ... View the full answer

Intermediate Accounting

Students also viewed these Accounting questions