On December 31, 2021, the bookkeeper of BLACK Corporation provided the following information: Accounts payable, including deposits and advances from customers of P500,000 Notes payable, including note payable to bank due on December 31, 2022, for P1,000,000 2,500,000 3,000,000 Share dividends payable 800,000 Credit balances in customers' accounts 400,000 10,000,000 Serial bonds, payable in semi-annual installments of P1,000,000 Accrued interest expense on bonds 300,000 Unearned rent income 100,000 Estimated premium liability 50,000
On December 31, 2021, the bookkeeper of BLACK Corporation provided the following information: Accounts payable, including deposits and advances from customers of P500,000 Notes payable, including note payable to bank due on December 31, 2022, for P1,000,000 2,500,000 3,000,000 Share dividends payable 800,000 Credit balances in customers' accounts 400,000 10,000,000 Serial bonds, payable in semi-annual installments of P1,000,000 Accrued interest expense on bonds 300,000 Unearned rent income 100,000 Estimated premium liability 50,000
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 3CE
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