I need an example of filling out a journal for Payment of interest

Q: Explain the alternatives in accounting for prepaids.

A: Prepaid expenses: Prepaid expenses refer to the payments which are made in advance and the amount…

Q: the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit

A: Solution:- Preparation of Journal entries in the books of Bonnie Donne Company during its first…

Q: Record the journal entry to account for tuition and fee revenue

A: Journal Entries is the method to record transactions within the accounting records of the business.…

Q: IF YOU ARE GIVEN OPPORTUNITY TO CHOOSE TO OPEN AN ACCOUNT, WHICH WILL YOU PREFER AND WHY?

A: A bank account is the account in which a person can deposit and withdraw his or her money. In order…

Q: Explain how to open a new account in the accounts payable ledger

A: The accounts payable ledger ia a subsidiary ledger which contains the details of all vendors to whom…

Q: (using the above information) how do you fill out the general ledger?

A: All of the Accounts that have been established based on transactions recorded in various journals…

Q: Show your financial calculator inputs for the payment calculation.

A: Interest refers to the cost of money borrowed from a lender. It can be simple or compound. It is…

Q: give the journal entry received a promissory note in payment of an account.

A: The journal entry keeps the records of day to day transactions of the business as debit one account…

Q: Describe Deposits and Advances from Customers.

A: Accounting:   Accounting is a system, or a process of collecting and organizing economic…

Q: Describe about the Accounts payable.

A: Accounts payable: A liability which is payable within a short period is termed accounts payable and…

Q: Distinguish between an accounts payable file and a vouchers payable file.

A: Accounts Payable system:   The accounts payable system looks over the due payments to be processed…

Q: What should be in the credit file

A: Following is the contains in credit file

Q: Describe accounts receivable and how they occur and are recorded.

A: Accounts receivable: Accounts receivable refers to the amounts to be received within a short period…

Q: Accounts navable

A: Before preparing the Income Statement let us prepare proper Trial Balance to…

Q: The journal entry to record lending money on a note receivable is… what?

A: Journal book is the book where all the transactions of the company will be recorded in a…

Q: Please see the info below.  Describe 2 accrual transactions and 2 deferral transactions that your…

A: Accrual transaction refers to recording that in accounts that are not incurred but accrued, for…

Q: What is a schedule for accounts receiveable?

A: AR stands for Accounts Receivable which is defined as the balance of amount due to the company for…

Q: Kindly review my answer agaisnt the question attached on General ledger T Accounts and please let me…

A: Journal means the book of prime entry where all entries are recorded in different pages. Ledger…

Q: Select whether each of the following accounts normally has a debit balance or a credit balance:

A: Under generally accepted accounting principles, All the assets and expenses accounts has normal…

Q: Define financial assets, trade and other receivables and financial liabilities Thanks tutor

A: Financial assets and trade and other receivables are different types of assets that are part of…

Q: Record a transaction money charged on a account

A: A transaction is the amount of value for a product or service. Regardless of when money is received…

Q: Explain how to record note payable transaction.

A:

Q: Determine due date and interest on notes

A: Interest:- Interest(In accounting terms) is the excess amount that is paid for taking a certain…

Q: Solve question With given worksheet Also another question what accounts are to be credited and…

A: Solution- Date Particulars Amount Amount A       may 1 petty cash--------------------------DR…

Q: What are age of receivables and how do you calculate them? Please explain

A: Accounts receivable form a part of assets of the entity and represents the amount due from the…

Q: You are required to prepare the journal entries to record the above transactions.

A: Preference Shares are the shares which carry preferential rights over the Equity shareholders in…

Q: Prepare a journal entry to record the purchase.

A: The cost of land purchased would be split between intangible assets of surface rights and mineral…

Q: Account for notesreceivable and interestrevenue

A: Notes Receivables: This records the promissory note’s value that is a promise in writing that one…

Q: The chart that gives data about payments and payment schedule is called what?

A: Introduction: Payments and payment schedules: payment schedule includes all the periods of payment…

Q: How to write notes on the account equation

A: Accounting Equation of the business says that at any particular point of time, total assets should…

Q: Describe how accounts are used to record information about the effects oftransactions?

A: Firstly the transaction are recorded in the original books i.e. Journal, when the transactions are…

Q: please solve this question with all steps and workings of notes to account as well following IND AS

A: 1. Profit and Loss - Profit and loss accounts show the profit earned and loss incurred by the…

Q: What are note payables? How they are recorded?

A: Solution:- Notes payable meaning as follows under:-

Q: How would a business record a bill received in QuickBooks?

A:

Q: Explain how a credit card billing cycle works. What is a grace period, and when is the best time to…

A: A credit card gives a customer a line for a short time period, based on given term and condition of…

Q: Define Permanent accounts

A: Permanent Accounts are also known as Real Accounts. Those accounts which do not close at the end of…

Q: discuss the process of applying for a business loan.

A: A business loan is a loan that is intended primarily for business purposes. It includes the…

Q: What is a credit memo? When is it used?

A: Credit memo also known as credit memorandum or credit note  Credit memo is issued by the seller of…

Q: How to adjust entries for refunds allowances and returns

A: In the case of Sales return, sale account should be debited and the customer account should be…

Q: WHAT IS THE LOAN FACILITY THAT WILL BE USED TO COVER THE DEPOSIT AND CLOSING COST

A: Credit facility Meaning: Credit facility is type of loan that is made business and corporate…

Q: Provide an example of an account that would be listed under Current Liabilities on a balance sheet…

A: According to IAS 1, Current liabilities are those obligations that are paid off during the next 12…

Q: What information is entered in the Posting Reference column of the journal as an amount is posted to…

A: General ledger: General ledger is a record of all accounts of assets, liabilities, and stockholder's…