3. Wellco paid off a bank loan of $17,200 in cash.(a)(b)(c) $(d)(e) $(f)(g)(h) $(i)(j) SHHHHHHdb9.PHHBuisness Math: Q7: T-Accounts(b)(c)(a)(d)(e)(g)(h)(f)(i)(j)

Journal entry is a primary entry that records the financial transactions initially. The transactions…

Answered: 3. Wellco paid off a bank loan of…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cash receipts totaled $875,000 for property taxes and $292,500 from other revenue. Note: Enter debits before credits. Transaction General Journal Debit Credit 04 .
19. Misk, Inc. received from a customer a one-year, $750,000 note bearing annual interest of 9%. After holding the note for six months, Misk discounted the note at National Bank at an effective interest rate of 12%. What amount of cash did Misk receive from the bank?
25. You are doing the bank reconcilement. The company wrote 30 checks this month and all have cleared the bank except for three checks totaling $43,908. How would this be handled on the bank reconcilement?
2. If HHC has $1,150 cash, $500 of government Treasury bills purchased four months ago, $780 of cash set aside for its workers' compensation insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"? Cash and Cash Equivalents
am. 135.
A man borrowed $950. Six months later, he repaid the loan (principal and interest) with $1,000. What simple interest rate did he pay? Round your answer to two decimal places.
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3. Wellco paid off a bank loan of $17,200 in cash. (a)