(b) (2) (c) (1) (c) (2) (d) (1) (d) (2) (e) (1) (e) (2) Oriole Cosmetics Co. purchased machinery on December 31, 2024, paying $47,300.00 down and agreeing to pay the balance in four equal installments of $46,400.00 payable each December 31. An assumed interest of 8% is implicit in the purchase price. Click here to view factor tables. Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates. (Round present value factor to 5 decimal places, e.g. 1.23465 and final answers to 2 decimal places, eg. 38,548.23. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) (a) (b) (c) (d) (e) No. (a) (b) (1) December 31, 2024. December 31, 2025. December 31, 2026. December 31, 2027. December 31, 2028. Cash Account Titles and Explanation Machinery Discount on Bonds Payable Cash Cash Notes Payable Interest Expense Notes Payable Discount on Notes Payable Cash Notes Payable Cash Interest Expense Discount on Notes Payable Notes Payable Interest Expense Discount on Notes Payable Notes Payable Interest Expense Discount on Notes Pavable I ► Debit Credit
(b) (2) (c) (1) (c) (2) (d) (1) (d) (2) (e) (1) (e) (2) Oriole Cosmetics Co. purchased machinery on December 31, 2024, paying $47,300.00 down and agreeing to pay the balance in four equal installments of $46,400.00 payable each December 31. An assumed interest of 8% is implicit in the purchase price. Click here to view factor tables. Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates. (Round present value factor to 5 decimal places, e.g. 1.23465 and final answers to 2 decimal places, eg. 38,548.23. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) (a) (b) (c) (d) (e) No. (a) (b) (1) December 31, 2024. December 31, 2025. December 31, 2026. December 31, 2027. December 31, 2028. Cash Account Titles and Explanation Machinery Discount on Bonds Payable Cash Cash Notes Payable Interest Expense Notes Payable Discount on Notes Payable Cash Notes Payable Cash Interest Expense Discount on Notes Payable Notes Payable Interest Expense Discount on Notes Payable Notes Payable Interest Expense Discount on Notes Pavable I ► Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:B
(b) (2)
(c) (1)
(c) (2)
(d) (1)
(d) (2)
(e) (1)
(e) (2)
Oriole Cosmetics Co. purchased machinery on December 31, 2024, paying $47,300.00 down and agreeing to pay the balance in four
equal installments of $46,400.00 payable each December 31. An assumed interest of 8% is implicit in the purchase price.
Click here to view factor tables.
Prepare the journal entries that would be recorded for the purchase and for (1) the payments and (2) interest on the following dates.
(Round present value factor to 5 decimal places, e.g. 1.23465 and final answers to 2 decimal places, e.g. 38,548.23. If no entry is required, select
"No Entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when the amount is entered. Do
not indent manually. List all debit entries before credit entries.)
(a)
(b)
(c)
(d)
(e)
No.
(a)
(b) (1)
December 31, 2024.
December 31, 2025.
December 31, 2026.
December 31, 2027.
December 31, 2028.
Cash
Account Titles and Explanation
Machinery
Discount on Bonds Payable
Cash
Cash
Notes Payable
Interest Expense
Notes Payable
Discount on Notes Payable
Cash
Notes Payable
Cash
Interest Expense
Discount on Notes Payable
Notes Payable
Interest Expense
Discount on Notes Payable
Notes Payable
Interest Expense
Discount on Notes Payable
Debit
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I
Credit
Ih
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SUPPO
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