Please help me with show all calculation thanku Current Attempt in ProgressMoss County Bank agrees to lend the Blossom Company $485000 on January 1. Blossom Company signs a $485000, 6%, 9-monthnote. What entry will Blossom Company make to pay off the note and interest at maturity assuming that interest has been accrued toSeptember 30?Interest ExpenseNotes PayableCashNotes PayableInterest PayableCashInterest PayableNotes PayableInterest ExpenseCash2182548500048500021825145504850007275506825506825506825 Notes PayableCashNotes PayableInterest PayableCashInterest PayableNotes PayableInterest ExpenseCashNotes PayableCashD48500048500021825145504850007275506825506825506825506825506825

To pay off the notes at maturity, principal amount of loan along with total interest must be pay…

Moss County Bank agrees to lend the Blossom Company $485000 on January 1. Blossom Company signs a $485000, 6%, 9-month note. What entry will Blossom Company make to pay off the note and interest at maturity assuming that interest has been accrued to September 307

Moss County Bank agrees to lend the Blossom Company $485000 on January 1. Blossom Company signs a $485000, 6%, 9-month note. What entry will Blossom Company make to pay off the note and interest at maturity assuming that interest has been accrued to September 307

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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Question

Please help me with show all calculation thanku

Current Attempt in Progress
Moss County Bank agrees to lend the Blossom Company $485000 on January 1. Blossom Company signs a $485000, 6%, 9-month
note. What entry will Blossom Company make to pay off the note and interest at maturity assuming that interest has been accrued to
September 30?
Interest Expense
Notes Payable
Cash
Notes Payable
Interest Payable
Cash
Interest Payable
Notes Payable
Interest Expense
Cash
21825
485000
485000
21825
14550
485000
7275
506825
506825
506825

Notes Payable
Cash
Notes Payable
Interest Payable
Cash
Interest Payable
Notes Payable
Interest Expense
Cash
Notes Payable
Cash
D
485000
485000
21825
14550
485000
7275
506825
506825
506825
506825
506825

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