{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-10T05:11:32-04:00", "answer_date": "2024-06-10 05:11:32", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "2568468", "url": "\/study-help\/questions\/to-record-the-revenue-to-be-recognized-in-december-2-2568468", "question_creation_date_js": "2024-06-10T05:11:32-04:00", "question_creation_date": "Jun 10, 2024 05:11 AM", "meta_title": "[Solved] to record the revenue to be recognized in | SolutionInn", "meta_description": "Answer of - to record the revenue to be recognized in December 2 0 2 4 . Record note pay 1 0 - 3 BE 1 0 . 4 ( LO 1 ) AP Rabbitt En | SolutionInn", "meta_keywords": "record,revenue,recognized,december,2,4,note,pay,1,-,3,lo", "question_title_h1": "to record the revenue to be recognized in December 2 0 2 4 . Record note pay 1 0 - 3 BE 1 0 .", "question_title": "to record the revenue to be recognized in December 2 0 2", "question_title_for_js_snippet": "to record the revenue to be recognized in December 2 0 2 4 Record note pay 1 0 3 BE 1 0 4 ( LO 1 ) AP Rabbitt Enterprises borrows $ 6 0 , 0 0 0 from LowLand Trust Co on July 1 , 2 0 2 4 , signing a 4 , one year note payable Interest is to be paid at maturity Prepare journal entries for Rabbitt Enterprises to record ( a ) the receipt of the proceeds of the note ( b ) 1 0 9 the accrued interest at December 3 1 , assuming adjusting entries are made only at year end and ( c ) the payment of the note at maturity Calculate sales taxes and record sales ", "question_description": "\"image
to record the revenue to be recognized in December <\/span>2<\/mn>0<\/mn>2<\/mn>4<\/mn>.<\/mo><\/mrow><\/math> <\/div>
Record note pay<\/span><\/div>
1<\/mn>0<\/mn>-<\/mo>3<\/mn><\/mrow><\/math><\/div>
BE<\/span>1<\/mn>0<\/mn>.<\/mn>4<\/mn><\/mtext>(<\/mi><\/mrow><\/math>LO <\/span>1<\/mn>)<\/mi><\/mrow><\/math> AP Rabbitt Enterprises borrows $<\/span>6<\/mn>0<\/mn>,<\/mo>0<\/mn>0<\/mn>0<\/mn><\/mrow><\/math> from LowLand Trust Co<\/span>.<\/mo><\/mrow><\/math> on July <\/span>1<\/mn>,<\/mo><\/mtext>2<\/mn>0<\/mn>2<\/mn>4<\/mn>,<\/mo><\/mrow><\/math> signing a <\/span>4<\/mn>%<\/mo>,<\/mo><\/mrow><\/math> one<\/span>-<\/mo><\/mrow><\/math>year note payable.<\/span> <\/div>
Interest is to be paid at maturity. Prepare journal entries for Rabbitt Enterprises to record: <\/span>(<\/mi><\/mrow><\/math>a<\/span>)<\/mi><\/mrow><\/math> the receipt of the proceeds of the note; <\/span>(<\/mi><\/mrow><\/math>b<\/span>)<\/mi><\/mrow><\/math> <\/div>
1<\/mn>0<\/mn>-<\/mo>9<\/mn><\/mrow><\/math> the accrued interest at December <\/span>3<\/mn>1<\/mn>,<\/mo><\/mrow><\/math> assuming adjusting entries are made only at year end; and <\/span>(<\/mi><\/mrow><\/math>c<\/span>)<\/mi><\/mrow><\/math> the payment of the note at maturity.<\/span> <\/div>
Calculate sales taxes and record sales.<\/span><\/div><\/span> <\/div><\/div> \"image", "transcribed_text": "", "related_book": { "title": "Fundamental Managerial Accounting Concepts", "isbn": "71220720, 78110890, 9780071220729, 978-0078110894", "edition": "6th Edition", "authors": "Edmonds, Tsay, olds", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/67.jpg", "uri": "\/textbooks\/fundamentals-managerial-accounting-concepts-6th-edition-67", "see_more_uri": "" }, "free_related_book": { "isbn": "979-8639920554", "uri": "\/textbooks\/no-pun-intended-979-8639920554-157608", "name": "No Pun Intended", "edition": "" }, "question_posted": "2024-06-10 05:11:32", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-circular-disk-shown-in-fig.-6-24-p6.13-lies-in-the-xy", "description": "The circular disk shown in Fig. 6-24 (P6.13) lies in the xy plane and rotates with uniform angular velocity \uf077\uf020about the z-axis. 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