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Prepare the journal entries related to notes and accounts payable. Hint: Use the Calculation of Inter accuracy of your entries. Journal entry worksheet April 20.
Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of Inter accuracy of your entries. Journal entry worksheet April 20. Purchased $48,750 of merchandise on credit from Perry, terms n/30. Note: Enter debits before credits. Journal entry worksheet May 19. Replaced the April 20 account payable to Perry with a 90-day, 12\%, $36,000 note payable along with paying $12,750 in cash. Note: Enter debits before credits. Prepare the journal entries related to notes and accounts payable. Hint: Use the "Calculation of accuracy of your entries. Journal entry worksheet 7 July 8 . Borrowed $96,000 cash from NYR Bank by signing a 120 -day, 6%, $96,000 note payable. Note: Enter debits before credits. Journal entry worksheet 1 August 17. Paid the amount due on the note to Perry at the maturity date. Note: Enter debits before credits. Journal entry worksheet November 5. Paid the amount due on the note to NYR Bank at the maturity date. Note: Enter debits before credits. Journal entry worksheet November 28. Borrowed $54,000 cash from Austin Bank by signing a 60 -day, 10%,$54,000 note payable. Note: Enter debits before credits. Journal entry worksheet 4 December 31 Recorded an adjusting entry for accrued interest on the note to Austin Bank. Note: Enter debits before credits. Caiculation of interest expense August 17 - Perry note: ScheduleofPayablesYear2payment Prepare the January 27 , Year 2 journal entry to record the payment of the Austin note at maturity. Sanchez Comp NOT prepare reversing entries
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