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Posted on Jun 28, 2024

On September 30, 2017, Coldwater Corporation purchased equipment for $1,370,000. The equipment was purchased with a $90,000 down payment and a three-year, 3%, $1,280,000 bank

On September 30, 2017, Coldwater Corporation purchased equipment for $1,370,000. The equipment was purchased with a $90,000 down payment and a three-year, 3%, $1,280,000 bank loan for the balance. The terms provide for payment of the bank loan with quarterly fixed principal payments of $106,667, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually.

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yPLUS: MyywilePLuS | Help | Contact US | Log out . WI leyPLUS Kimmel, Financial Accounting, Seventh Canadian Edition INTRODUCTION To ACCOUNTING I-MAJORS(ACTG1P11) @ MESSAGE nv INSIRUCIOR STANDARD vxsw mums: vsnsxon ' 4 BACK 1- AssIGNMENT REsouRcEs l Mix 5 ch.9 3, 10 Problem 10-3A Problem \"A an, l On September 30, 2017, Goldwater Corporation purchased equipment for $1,370,000. The equipment was purchased with a $90,000 down payment and a three-year, 3%, $1,280,000 bank lcan for the balance. The terms provide for payment of the bank loan with quarterly xed principal payments of $106,667, plus interest, starting on December 31. Coldwater has a November 30 year end and records adjusting entries annually. Exercise 95 , Problem IU-IA ' Record the purchase of equipment on September 30, 2017. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Review Score ' Revuew Results by study Date Account Title: and Explanation Debit credit Obieetive , l sent-sol ll ll l l H ll ' a l ll ll ' Record the accrual of interest expense on November 30, 2017. (Round answers to the nearest whole dollar, e.g. 5,275. Credit account titles are automatically indented when the amount is entered. Do not l indent manually.) ' Date AmuntTltleo and Explanation Debit Credit Nov. 30 l l l l l l l l ' Record the first two instalment payments, on December 31, 2017, and March 31, 2018. (Round answers to the nearest whole dollar, e.g. 5,250. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Date Account Title: and Explanation Debit credit 3 Dec. 31, 2017' H l l M l l' H l l WileyPLUS viii ASSIGNMENT RESOURCES lliz 5 Ch.9 & 10 Problem 9-4A a-b Exercise 95 Problem 10-1A Problem 107 Review Score Revlew Results by study Obieetive yPLUS: MyywilePLUS | Helg | Contact Us | Lug out Kimmel, Financial Accounting, Seventh Canadian Edition INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) MESSAGEMvmsrRucroR s-mlmmnvxew vaYERVERsIon l {BACK l NEXT> 1 amount is entered. Do not indent manually.) Babe Amount 1166 and Explanation Dec. 31, 2017 l Debit Wit l l l Mar. 31, 2013 l l amount is entered. Do not indent manually.) Date Amount \"ties and Explanation l l Debit Credlt Nov. 30, 2017 l Dec. 31, 2017 l l l l l l l Mart 31, 2018 l l l l 1 Record the first two instalment payments, on December 31, 2017, and March 31, 2018. (Round answers to the nearest whale dollar, e.g. 5,250. Credit accnunt titles are automatically indented when the Record the accrual of interest expense on November 30, 2017 and first two instalment payments, on December 31, 2017, and March 31, 2018 assuming that the terms provide for quarterly blended principal and interest payments of $111,938, rather than fixed principal payments of $106,667, plus interest. (Round answers to the nearest whole dollar, e.g. 5,250. Credit account titles are automatically indented when the WileyPLUS viii ASSIGNMENT RESOURCES lliz 5 Ch.9 & 10 Problem 9-4A a-b Exercise 95 Problem 10-1A Problem 107 Review Score Revlew Results by study Obiective Kimmel, Financial Accounting, Seventh Canadian Edition l l Mara 31, 2018 l l l l l H H yPLUS: MHWiIePLUS | Help | Contact Us | Lug out INTRODUCTION TO ACCOUNTING I-MAJORS(ACTGIP11) Record the accrual of interest expense on November 30, 2017 and first two instalment payments, on December 31, 2017, and March 31, 2018 assuming that the terms provide for quarterly blended principal and interest payments of $111,938, rather than fixed principal payments of $106,667, plus interest. (Round answers to the nearest whole dollar, e.g. 5,250. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Dal: Account Tles and Explanation Debit Novt 30, 2017 l l l Dec. 31, 2017 ll ll all l l Mar. 31, 2018 l l l l l l l l l l l l Question AttempIs: I) of 1 used SAVE FOR LA'l'ER MESSAGEMvmsrRucroR s'rAuDAanwa DRINYERVERSIDN l (BACK l NEXT>