Journalize the following transactions for October. Entries should be posted daily/immediately.
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Please write a general journal and general ledger (date, description, account#, debit, credit).
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- Exercise 9-3 On January 1, 2020, Swifty Limited paid $561,003.30 for 10% bonds with a maturity value of $540,000. The bonds provide the bondholders with a 9% yield. They are dated January 1, 2020, and mature on January 1, 2025, with interest receivable on December 31 of each year. Swifty accounts for the bonds using the amortized cost approach, applies ASPE using the effective interest method, and has a December 31 year end. Prepare the journal entry to record the bond purchase. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 52.75.) Date Account Titles and Explanation Debit Credit Jan 1, 2020 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare a bond amortization schedule. (Round answers to 2 decimal places, e.g. 52.75.) Schedule of Interest Income and Bond Premium Amortization Effective…Using the table, what is the average daily balance of the credit card for the July 1 - July 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 ----- ------ 8000 9 Payment −700 7300 19 Purchase +550 7850 27 Payment −600 7250Erase the aging information for October and enter the following information for November 30, 2012: Save the results as AGING4. Print the worksheet. Has the estimated total uncollectible accounts increased or decreased in November? Explain.
- Using the table, what is the average daily balance of the credit card for the December 1 - December 31 billing period? Round your answer to the nearest cent. Day Activity Adjustment Closing Balance 1 -- -- 9,500 6 Purchase +500 10,000 16 Purchase +1,250 11,250 21 Purchase +3,000 14,250HELP ME PREPARE A CLASSIFIED BALANCE SHEET AT DEC.31,2019. THE NOTE PAYABLE HAS A STATED INTEREST RATE OF 6% AND THE PRINCIPAL AND INTEREST ARE DUE ON NOV.6,2021 ?? Natalie had a very busy December. At the end of the month, after journalizing and posting the December transactions and adjusting entries, Natalie prepared the following adjusted trial balance. COOKIE CREATIONSAdjusted Trial BalanceDecember 31, 2019 Debit Credit Cash $1,460 Accounts Receivable 1,085 Supplies 430 Prepaid Insurance 1,500 Equipment 1,500 Accumulated Depreciation—Equipment $50 Accounts Payable 95 Salaries and Wages Payable 69 Interest Payable 20 Unearned Service Revenue 370 Notes Payable 2,500 Owner’s Capital 990 Owner’s Drawings 620 Service Revenue 5,588 Salaries and Wages Expense 1,247 Utilities Expense 155…Hello, I'm looking for help with trial balance for each months end cutoff for the following transactions.
- differentiate temporary account from permanent account and give example of it.Based on your understanding why it is important to close all temporary accounts at the end of the piscal year?Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for 8,500. Prepare the journal entry for McKinncy to record the collection of the account previously written off.[The following information applies to the questions displayed below.] Hillside issues $4,000,000 of 6%, 15-year bonds dated January 1, 2021, that pay interest semiannually on June 30 and December 31. The bonds are issued at a price of $3,456,448. Required: 1. Prepare the January 1 journal entry to record the bonds' issuance. 2(a) For each semiannual period, complete the table below to calculate the cash payment. 2(b) For each semiannual period, complete the table below to calculate the straight-line discount amortization. 2(c) For each semiannual period, complete the table below to calculate the bond interest expense. 3. Complete the below table to calculate the total bond interest expense to be recognized over the bonds' life. 4. Prepare the first two years of a straight-line amortization table. 5. Prepare the journal entries to record the first two interest payments. Complete this question by entering your answers in the tabs below. Req 1 Req 2A to 2C Req 3 Req 4 Req 5 Prepare the…
- Complete the table: Invoice Terms Last day of discount period Final day bill is due(end of credit period) March 7 1/10, n/30 March 17 April 6 October 17 3/10 EOM Nov. 10 Nov. 30 August 28 2/10 EOM Oct 10 Oct 31 November 12 2/10, 1/30, n/60 Dec 12 Jan 11 I need help figuring out the easiest way to get to the last day of discount periods and the final day the bill is due on these problems. The answers are in the boxes I just need tips on getting to these answers.42) Identify the term, which is used for the full payment is due on the 15th of the month following the invoice date from the following? a. 15MFI b. 1/10 c. 2/10 d. 3/EOMcreate a t account for this month