FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

This is a 9% note due February 15, 2026 with interest collectible on the 15th of each month. Refer to the collection schedule below for

This is a 9% note due February 15, 2026 with interest collectible on the 15th of each month. Refer to the collection schedule below for the note details. Values in schedule have been rounded for convenience. additional information : colloection is 2604, principal 2176,interst is 428 and the balance for march 15th is 54824. however, we have the credit balnce of interst earned at 214$. what is the journal entry for 31 of march 2024

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fraud examination
Fraud examination

Authors: Steve Albrecht, Chad Albrecht, Conan Albrecht, Mark zimbelma

4th edition

538470844, 978-0538470841

More Books

Students explore these related Accounting questions

Question

unadjusted balance for Note receivable is 54824$ for the march 31 2024. and the unadjusted interest earned is 214%$ credit at teh end of march 2024. additional information : This is a 9% note due...

Answered: 3 weeks ago

Question

Intermediate Accounting question Intermediate Accounting question It is November 1, 2010, the first business day of the month, and you have just been hired as the accountant for ABC Corporation,...

Answered: 3 weeks ago

Question

Deposit Rules for Glo-Brite Paint Company The FICA taxes and FIT taxes must be deposited on or before the 15th of the month following the month in w Federal taxes were withheld. Since Glo-Brite is a...

Answered: 3 weeks ago

Question

A company had average total assets of $500,000, gross sales of $575,000, and net sales of $550,000. The companys total asset turnover is a. 1.15. b. 1.10. c. 0.91. d. 0.87. e. 1.05.

Answered: 3 weeks ago

Question

What happens to light when it falls on a material that has a natural frequency above or below the frequency of the light?

Answered: 3 weeks ago

Question

Let Z(t) denote the standard Brownian process. Show that (a) dZ(t) 2+n = 0, for any positive integer n, (b) for any positive integer n, (c) E[Z 4 (t)] = 3t 2 , (d) E[e Z (t) ] = e 2t / 2 . S to...

Answered: 3 weeks ago

Question

How many applicants are you interviewing?

Answered: 3 weeks ago

Question

Which of the four examples of conflict resolution is the best example, in your opinion, of effective resolution? Why?

Answered: 3 weeks ago

Question

1 0 . Assure a processor has 3 levels of caches. Suppose that the tirne required to access the Ll ( primary ) cache on a hit is 1 cycle, the local Ll cache hit ratio is O . 9 0 , the to access the L...

Answered: 3 weeks ago

Question

The Erin Corp. has the following balance sheet accounts for the years ending December 31st. 2015 2016 Change Cash $ 15,000 $ 8,000 $ 7,000 Accounts receivable 30,000 20,000 -10,000 Inventory 22,000...

Answered: 3 weeks ago

Question

The table below shows the number of visitors to a museum over a period of 5 days. Monday Tuesday Wednesday Thursday Children 120 110 90 135 Adults 130 140 125 105 Which stack plot best represents the...

Answered: 3 weeks ago

Question

Justify whether or not you believe that Penalty Enhancements should attach to crimes based on hate or bias?

Answered: 3 weeks ago

Question

The company CEO of a heavily indebted company considers taking on a risky negative NPV project. In practice, the debtholders can best prevent this through 1 point a haircut. monitoring. increasing...

Answered: 3 weeks ago

Question

3. How do Gus's demands fit into the category of expecting Karen to exhibit strong organizational citizenship behavior?

Answered: 3 weeks ago

Question

On December 31, 2010, Gold Company purchases 80% of the common stock of Silver Corp. for its underlying book value of $480,000. On that date, the fair value of non-controlling interest was equal to...

Answered: 3 weeks ago

Question

can someone please help me with demand paging problem s? I need it asap Homework 5 - Demand paging problems (page replacement algorithms): 1. For the following reference string apply the FIFO page...

Answered: 3 weeks ago

Question

White Bolder Investments (WBI) You are an intern working for WBI, a large investment advisory services in Sydney. Among other regular customers, WBI has been providing advisory services for Jumbo...

Answered: 3 weeks ago

Question

81. Analyze asset composition and coverage for solvency analysis.

Answered: 3 weeks ago

Question

81. Describe analysis tools for evaluating and interpreting capital structure composition and for assessing solvency.

Answered: 3 weeks ago

Question

81. Describe prediction models of financial distress (Appendix 10B).

Answered: 3 weeks ago

Previous Question Next Question