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this is one question it is just too long to fit!! :) Entries for and Financial Statement Presentation of a Note Griddiey Company borrowed $83,000
this is one question it is just too long to fit!! :)
Entries for and Financial Statement Presentation of a Note Griddiey Company borrowed $83,000 from the East Salvador Bank on February 1,2023 , on a 3-year, 7.2% note. Interest is paid annually on January 31 . If required, round amounts to the nearest dollar. Required: 1. Record the borrowing transaction in Griddley's journal, If an amount box does not require an entry, leave it blank. 2023Feb.1 Festane TChea My win 1. When bonds are issued, any premium or discount is recorded in a separate valuation account. Prepare the necessary journal entry to recognize the first interest payment on January 31, 2024, If an amount box does not require an entry, leave it blank. 2024 Jan. mecord interest expense and interest payment Ferthes: * Chea My Won 3. Consider the adjusting entry made on December 31 st. 4. Indicate how the note and associated interest would be presented in Griddley's December 31, 2024, balance sheet. 5. Prepare the necessary joumal entries to record the repayment of the note and the last year's interest payment on lanuary 1,2026 . If an amount box does not require an entry, leave it blank
this is one question it is just too long to fit!! :)
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