ia 3 On December 31,2019, Bryant Ltd. performed environmental consulting services for Warren Company was short of cash, and Bryant Ltd. agreed to accept 1,200,000 zero-interest-bearing note due December 31, 2021 as payment in full. Warren Company is somewhat of a credit risk and typically borrows funds at a rate of 10%. (PVIFA n-2i=10% =1.7355, PVIFA n3j=10% =2.4869, PVIF =0.8264 and PVIF najato% =0.7513) n=3j=10% n=2.j=10% Instruction: 3.1 Prepare the journal entry to record the transaction of December 31, 2019, for Bryant Ltd. 3.2 Assuming Bryant Ltd.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2020. ***
ia 3 On December 31,2019, Bryant Ltd. performed environmental consulting services for Warren Company was short of cash, and Bryant Ltd. agreed to accept 1,200,000 zero-interest-bearing note due December 31, 2021 as payment in full. Warren Company is somewhat of a credit risk and typically borrows funds at a rate of 10%. (PVIFA n-2i=10% =1.7355, PVIFA n3j=10% =2.4869, PVIF =0.8264 and PVIF najato% =0.7513) n=3j=10% n=2.j=10% Instruction: 3.1 Prepare the journal entry to record the transaction of December 31, 2019, for Bryant Ltd. 3.2 Assuming Bryant Ltd.'s fiscal year-end is December 31, prepare the journal entry for December 31, 2020. ***
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![A Puree Eng 2 Wed-Morning 8.00-
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b My Questions | bartleby
+ (2) Facebook
f (2) Facebook
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i facebook.com/messenger_media/?thread_id=100005136376544&attachment_id=2518043765165174&message_id=mid.%24cAAAAAYrOs8J9ltBwvV3ZYsdaPi9d
ia 3 On December 31,2019, Bryant Ltd. performed environmental
consulting services for Warren Company was short of cash, and
Bryant Ltd. agreed to accept 1,200,000 zero-interest-bearing note
due December 31, 2021 as payment in full. Warren Company is
somewhat of a credit risk and typically borrows funds at a rate of
10%. (PVIFA n=2i=10% =1.7355, PVIFA =3.=10% =2.4869, PVIF
=0.8264 and PVIF n-3jat0% =0.7513)
n=2.=10%
Instruction:
3.1 Prepare the journal entry to record the transaction of
December 31, 2019, for Bryant Ltd.
3.2 Assuming Bryant Ltd.'s fiscal year-end is December 31,
prepare the journal entry for December 31, 2020.
***
11:58 AM
O Type here to search
2/3/2021
..](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fece3a204-cec0-4871-936c-46c8f154624e%2Fa530240e-da77-45bb-b20e-c0cfd74e6630%2Fidkddfk_processed.png&w=3840&q=75)
Transcribed Image Text:A Puree Eng 2 Wed-Morning 8.00-
f (2) Facebook
b My Questions | bartleby
+ (2) Facebook
f (2) Facebook
+
i facebook.com/messenger_media/?thread_id=100005136376544&attachment_id=2518043765165174&message_id=mid.%24cAAAAAYrOs8J9ltBwvV3ZYsdaPi9d
ia 3 On December 31,2019, Bryant Ltd. performed environmental
consulting services for Warren Company was short of cash, and
Bryant Ltd. agreed to accept 1,200,000 zero-interest-bearing note
due December 31, 2021 as payment in full. Warren Company is
somewhat of a credit risk and typically borrows funds at a rate of
10%. (PVIFA n=2i=10% =1.7355, PVIFA =3.=10% =2.4869, PVIF
=0.8264 and PVIF n-3jat0% =0.7513)
n=2.=10%
Instruction:
3.1 Prepare the journal entry to record the transaction of
December 31, 2019, for Bryant Ltd.
3.2 Assuming Bryant Ltd.'s fiscal year-end is December 31,
prepare the journal entry for December 31, 2020.
***
11:58 AM
O Type here to search
2/3/2021
..
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