Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please solve all of them On January 1, 2024, Royal Paradise borrows $45,000 by agreeing to a 6%, five.year note with the bank. Loan payments

please solve all of them
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
On January 1, 2024, Royal Paradise borrows $45,000 by agreeing to a 6%, five.year note with the bank. Loan payments of $869.98 are due at the end of each month with the first installment due on January 31,2024 Required: Record the issuance of the instaliment note payable and the first two monthly payments. (Do not round intermediate ce isula tions. Round your final answers to 2 decimal places. If no entry is required for a particular transection/event, select "No Jo it. Entry Required" in the first account field.) Journal entry worksheet 3 Record the issuance of a note payable. Notei Enter debits before oredita. Exercise 9-2 (Algo) Record installment notes (LO9-2) On January 1, 2024, Royal Paradise borrows $45,000 by agreeing to a 6%, five-year note with the bank. Loan payments of $869.98 are due at the end of each month with the first installment due on January 31,2024. Required: Record the issuance of the installment note payable and the first two monthly payments, (Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Exercise 9-2 (Algo) Record installment notes (LO9-2) On January 1, 2024, Royal Paradise borrows $45,000 by agreeing to a 6%, five-year note with the bank. Loan payments of $869,98 are due at the end of each month with the first installment due on January 31,2024 Required: Record the issuance of the installment note payable and the first two monthly payments. (Do not round intermediate calculations. Round your final answers to 2 decimal places. If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first occount field.) Journal entry worksheet Record the second monthly payment. Notet Enter debits before credits. Required information Exercise 9-11 (Algo) Record bonds issued ot o discount and related semiannual interest (LO9-5) The following information applies to the questions displayed below] On January 1, 2024, Splash City issues $430,000 of 8% bonds, due in 15 years, with interest payable semiannually on fune 30 and December 31 each year. Assuming the market interest rate on the issue date is 9%, the bonds will issue at $394,979 Exercise 9.11 (Algo) Part 1 tequired: Complete the first three rows of an omortization schedule. (Round your intermediate and final answers to the nearest whole oller.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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