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Q4 Please ASAP Question 4 of 5 -/1 Current Attempt in Progress At January 1, 2021. Han Merchants had a balance in the Interest Payable
Q4 Please ASAP
Question 4 of 5 -/1 Current Attempt in Progress At January 1, 2021. Han Merchants had a balance in the Interest Payable account for several notes it had signed and given to suppliers in exchange for outstanding accounts payable. The following table contains the details of the notes payable and the balance of the interest accrued on each note as at the end of the last fiscal year, December 31, 2020. 1 Supplier Tessier Inc Wolde Inc Note Principal $4.500 6.300 10.200 Interest Rate 596 4.5% 696 Issue Date Nov. 1, 2020 Nov. 30. 2020 Dec. 1. 2020 Total Term 3 months 5 months 1 year 2 3 Interest Accrued $37.50 23.63 51.00 $112.13 Deng Inc All notes require that the interest be paid at the maturity of the note. All notes and interest were paid on time. Han prepares adjusting entries at the end of its calendar fiscal year. Additional transactions of 2021 Mar 1 Oct. 30 Nov. 30 Signed a $10.800, one-year, 5% note to Lalonde Ltd. in settlement of an accounts payable. Interest is due at maturity Signed a $4.500, three-month, 4.5% note to Hanover Ltd. in settlement of an accounts payable. Interest is due at maturity Borrowed from RBC $10.500 cash in exchange for a two-year 6% note with interest due at maturity Prepare alljournal entries for Han Merchants for the above transactions and to record the on-time repayment of the notes payable that were outstanding as at December 31, 2020. (Round answers to 2 decimal places, eg 52.76. Credit account titles are automatically indented when the amount is entered Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Record journal entries in the order presented in the problem.) Address Question 4 of 5 -/1 Date 2021 Account Titles and Explanation Debit Credit Feb. 1 Apr 30 M Deel 1 AENEAN Question 4 of 5 -/1 Prepare any adjusting entry required on December 31, 2021. Round answers to 2 decimal places, eg: 52.76. Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts) Debat Date Account Titles and Explanation Dec 31 Credit e Textbook and Media List of Accounts What amount will appear under interest expense for Hans Income statement for the year ended December 31, 2021? Where will this amount be dessined on the income statement? (Round answer to 2 decinal places 52.76 Income Statement Classification Amount Interest expense Textbook and Media List of Accounts
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