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Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $ 4 0 . 6 million cash on October 1
Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $ million cash on October to provide working capital for anticipated expansion. Precision signs a oneyear, promissory note to Midwest Bank under a prearranged shortterm line of credit. Interest on the note is payable at maturity. Precision Castparts has a December year end. Required: How will the issuance of the note payable affect the financial statements of Precision Castparts on October How will the accrued interest on the note payable affect the financial statements of Precision Castparts at the end of the fiscal year December How will the repayment of the note and interest on September affect the financial statements of Precision Castparts? Note: Amounts to be deducted should be indicated by a minus sign. PLEASE SOLVE THIS FOR SEPTEMER AND DECEMBER ASAP!! i am missing net income and retained earnings for both Enter your answers in dollars, not in millions ie $ million should be entered as $ Answer is not complete. Complete this question by entering your answers in the tabs below. How will the accrued interest on the note payable affect the financial statements of Precision Castparts at the end of the fiscal year December
Precision Castparts, a manufacturer of processed engine parts in the automotive and airline industries, borrows $ million cash on
October to provide working capital for anticipated expansion. Precision signs a oneyear, promissory note to Midwest Bank
under a prearranged shortterm line of credit. Interest on the note is payable at maturity. Precision Castparts has a December year
end.
Required:
How will the issuance of the note payable affect the financial statements of Precision Castparts on October
How will the accrued interest on the note payable affect the financial statements of Precision Castparts at the end of the fiscal
year December
How will the repayment of the note and interest on September affect the financial statements of Precision Castparts?
Note: Amounts to be deducted should be indicated by a minus sign. PLEASE SOLVE THIS FOR SEPTEMER AND DECEMBER ASAP!! i am missing net income and retained earnings for both
Enter your answers in dollars, not in millions ie $ million
should be entered as $
Answer is not complete.
Complete this question by entering your answers in the tabs below.
How will the accrued interest on the note payable affect the financial statements of Precision Castparts at the end of the fiscal year December
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