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Oriole Corporation sells rodie-dilimbing products and also operates an indoor climbing facility for climbing enthusiasts. During the part of 2025, Oriole had the following
Oriole Corporation sells rodie-dilimbing products and also operates an indoor climbing facility for climbing enthusiasts. During the part of 2025, Oriole had the following transactions related to notes payable Sept 1 Issued a $13,200 note to Plopen to purchase Inventory: The 3-month note payable bears Interest of 6% and is due December 1. (Oriole uses a perpetual Inventory system) Sept. 30 Oct 1 Oct 31 Nov 1 Nov 30 Dec 1 Dec 31 Recorded accrued Interest for the Pippen note Issued a $20,400,9%, 4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced dimbers. The note le due February 1 Recorded accrued Interest for the Pippen note and the Prime Bank note. Issued a $30,000 note and paid $8,700 cash to purchase a vehicle to transport clients to nearby dimbing sites as p of a new series of climbing classes. This note bears interest of 6% and matures in 12 months. Recorded accrued Interest for the Pippen nots, the Prime Bank note, and the vehicle note Paid principal and Interest on the Plopen note. Recorded accrued Interest for the Prime Bank note and the vehicle note. (a) (b) Your answer la partially correct. Post the above entries to the Notes Payable, Interest Payable, and Interest Expense accounts. (Post entries in the order of journal entries posted in the previous part of the question.) 12/1 Notes Payable 13200 7/1 12200 10/1 20400 11/1 20000 12/21 63600 Interest Payable 12/1 153 5:20 66 1231 757 10/21 219 11/20 259 202 12/21 Interest Expense 957 5/20 66 12/21 957 13/31 219 11/20 247 12/02 200 957 12/21
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