FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pls help me with this accounting question!!! A bank agrees to lend $450,000 on 8/1/2020 to D.Gaul Industries for 9 months at 14% interest. What

Pls help me with this accounting question!!!

A bank agrees to lend $450,000 on 8/1/2020 to D.Gaul Industries for 9 months at 14% interest. What adjusting entry should be made at 12/31/2020 by D.Gaul if they take the loan?

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

Question

Of the criticisms of the current DSM described in this chapter, which seem most and least legitimate?

Answered: 1 week ago

Question

★★★★★
The Mound View Motel opened for business on May 1, 2010. Its trial balance before adjustment on May 31 is as follows In addition to those accounts listed on the trial balance, the chart of accounts...

Answered: 1 week ago

Question

★★★★★
Making Business Decisions II The Yankee Group reports that 66 percent of companies determine Web site success solely by measuring the amount of traffic. Unfortunately, large amounts of Web site...

Answered: 1 week ago

Question

★★★★★
View Policies Current Attempt in Progress On December 31, 2021. when its Allowance for Doubtful Accounts had a debit balance of $ 1.500, Skysong, Inc. estimates that 8% of its accounts receivable...

Answered: 1 week ago

Question

★★★★★
Question 8 Refer to Step 3.3. In the "Constrained " or "Long Only" version of the optimal risky portfolio , what is the portlolio standard deviation ? Write your answer as a percentage , with no...

Answered: 1 week ago

Question

★★★★★
Answer the following question with detail explanation including example of experience of utilizing concurrent engineering in a development process. What were some of the roadblocks encountered in the...

Answered: 1 week ago

Question

★★★★★
Management at the Terrain Corporation is implementing a new just-in-time production system to achieve and maintain low inventory levels. This will help the company to reduce costs and increase...

Answered: 1 week ago

Question

★★★★★
Risk-neutral probabilities are always Select one: O equal to atomic prices O less than physical probabilities O equal to forward atomic prices O negative O equal to physical probabilities

Answered: 1 week ago

Question

★★★★★
its in-coming taxi Sh. H. Mukherjee constructed a building on 30th June, 2011. It had two flats of equal dimensions. One flat was let out to a tenant for residential purpose on a monthly rent of Rs...

Answered: 1 week ago

Previous Question Next Question