Problem 10-2A

Bramble Corporation sells rock-climbing products and also operates an indoor climbing facility for climbing enthusiasts. During the last part of 2017, Bramble had the following transactions related to notes payable.

Sept. 1Issued a $15,600note to Pippen to purchase inventory. The3-month note payable bears interest of9% and is due December 1. (Bramble uses a perpetual inventory system.)Sept. 30Recorded accrued interest for the Pippen note.Oct. 1Issued a $21,600,8%,4-month note to Prime Bank to finance the purchase of a new climbing wall for advanced climbers. The note is due February 1.Oct. 31Recorded accrued interest for the Pippen note and the Prime Bank note.Nov. 1Issued a $27,600note and paid $8,500cash to purchase a vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of8% and matures in12months.Nov. 30Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note.Dec. 1Paid principal and interest on the Pippen note.Dec. 31Recorded accrued interest for the Prime Bank note and the vehicle note.

Problem lo-ZA Bmmble Corporation sells mck-cllmblng products and also operates an Indoor cllmblng faclllty for climblng enthusiasts. During the last part of 1017, Bramble had the following transactions related to notes payable. Sept. 1 Issued 3 515,600 note to Plppen to purchase Inventory. The 3-month note payable bears Interest of 9% and Is due December 1. (Bramble uses a perpetual Inventory system.) Sept. 30 Recorded accrued interest for the Pippen note. Oct. 1 Issued a $21,500, 8%, 4-month note to Prime Bank to nance the purchase of a new climbing wall for advanced climbers. The note is due February 1. Oct. 31 Recorded accrued Interest for the Plppen note and the Prlme Bank note. Nov. 1 Issued a $27,600 note and paid $8,500 Cash to purchase a Vehicle to transport clients to nearby climbing sites as part of a new series of climbing classes. This note bears interest of 8% and matures in 12 months. Nov. 30 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note. Dec. 1 Paid princlpal and Interest on the Plppen note. Dec. 31 Recorded accrued interest for the Prime Bank note and the Vehicle note. Prepare journal entries for the transactions noted above. (credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Mumme- Ind Explanation Deblt cull! Fi li i Dec. 1 l l SHOW SOLUYION l LINK TO TEXT i LINK TO TEXT Post the above entries to the Notes Payable, Interest Payable, and Interest Expense accounts. (Post entries In the order oIIoun-ial entries posted in the previous part 0! tire questian.) lldllu Payable LINK TO TEXT LINK TO TEXT Show the balance sheet presentation of notes payable and interest payable at December 31, BRAMBLE CORPORATION Balance sheet (Partial) ' LINK TO TEXT LINK TO TEXT How much interest expense relating to notes payable did Bramble incur during the year? Interest expense incurred during the year s' LINK TO TEXT LINK TO TEXT Question Attempts: n of 5 used SAVE FOR LAYER