Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 09, 2024

on september 1, 2020 johnson company accepted a $1320, 15% note as a payment when it loaned cash to a customer. the interest will not

on september 1, 2020 johnson company accepted a $1320, 15% note as a payment when it loaned cash to a customer. the interest will not be paid until the note matures in 1. year. what is entry to record the receipt of the note. what is the entry to record the accrual of intrest at December 31,2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

1. Identity three films in which there is a classical sibling rivalry theme brothers and/or sisters conflicting with each other.

Answered: 1 week ago

Question

★★★★★

Brews 4 U is a local chain of coffee shops. Managers are interested in the costs of the stores and believe that the costs can be explained in large part by the number of customers patronizing the...

Answered: 1 week ago

Question

★★★★★

Esfandairi Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.27 million. The fixed asset falls into the three-year MACRS class (MACRS...

Answered: 1 week ago

Question

★★★★★

16. John Meower wants to sell 20% of the ownership of Meower's to a private equity fund. He is exploring different ways of valuing the investment. He decides to price it based on an earnings multiple...

Answered: 1 week ago

Question

★★★★★

The Casual Furniture Company manufactures outdoor furniture and incurred the following costs during the month of January: $ Timber 31,998 Wages-assembly line personnel 19,499 Wages-factory supervisor...

Answered: 1 week ago

Question

★★★★★

A drug trial is attempted using a real drug and a pill made of just sugar. 18 people are given the real drug in hopes of increasing the calcium levels. The increase in calcium level is found to be on...

Answered: 1 week ago

Question

★★★★★

1. Using the TQM philosophy show how Disney or any other company can benefit from implementing lean method so that customers can experience their value for money. 2. Provide recommendations on how...

Answered: 1 week ago

Question

★★★★★

Question: Consider the following figure. Draw the BFS tree considering 2 as the source node and mark each level. If you have multiple options while traversing, pick the node with smallest index. Part...

Answered: 1 week ago

Question

★★★★★

To be superior to similar products available in the market, products and services must possess a high level of quality. In different forms, most products come with assurances of quality, but are they...

Answered: 1 week ago

Previous Question Next Question