On December 31, 2024, Flint Hills received a bill for $210 for utilities incurred during December. The bill will be paid in early January of 2025.
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On December 31, 2024, Flint Hills received a bill for $210 for utilities incurred during December. The bill will be paid in early January of 2025.
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- Upon January 1, 2020, Sally Corp. borrowed $360,000 from County Bank and signed a 15-year note payable. The loan includes a 4% interest rate and a fixed yearly payment of $32,379. Payments will commence on January 1, 2021. What portion of the payment made on January 1, 2022 will be used for involvement?On April 1, 2020, Sheridan Industries receives its annual property tax bill in the amount of $7,320 relating to its annual property taxes for the year ending December 31, 2020. The bill is to be paid by June 30, 2020 and the company's year-end is December 31, 2020. Prepare all the appropriate journal entries for the year (that is, for April 1, June 30 and December 31, 2020). (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 O for the amounts.) Date June 30 Account Titles and Explanation Debit CreditThe Des Moines Gazette received newspaper subscriptions in December 2020 for 2021 from customers, who paid $500 in advance. What would be the appropriate journal entry for this event in December 2020?
- On January 1, 2021, Beaver Tours financed the purchase of a new building by borrowing $600,000 from the bank using a 30-year, 6% note payable. Payments of $3,597.30 are due at the end of each month, with the first installment due on January 31, 2021. Record the issuance of the note payable and the first monthly payment.1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021?2. How much interest expense on this note will Montgomery recognize in 2021?(For all requirements, Round your final answers to nearest whole dollar amountOn July 1, 2021, Orion Tech received $75,000 through promissory notes maturing in 2024. These notes pay 5% interest annually, and Orion's fiscal year ends on December 31. What amount of interest expense should Orion recognize by the end of the year?
- For Keke Baking, owned by Lingo, the financial year ends on December 31. On January 1, 2023, an examination of the municipal statement indicated a surplus payment of R2,500. During the year, from January 1, 2023, to December 31, 2023, Keke Baking received three 4-monthly water bills, totalling R4 800, R4 120 and R4 890, respectively. On 28 December 2023, the municipality sent an additional bill for the recovery of undercharged water use for October 2023. By December 31, 2023, the municipal account showed an outstanding balance of R2 810 for water consumed and a total amount paid by Keke Baking of R9 210 for the year. Which of the following options correctly identifies the amount that should be recorded as the water expense in Keke Baking's statement of profit or loss and other comprehensive income for the year ending December 31, 2023? Oa. R 13 100 O b. R 13 810 c. R 14 520 Od. R 12 020On January 1, 2021, the Montgomery Company agreed to purchase a building by making six payments. The first three are to be $25,000 each, and will be paid on December 31, 2021, 2022, and 2023. The last three are to be $40,000 each and will be paid on December 31, 2024, 2025, and 2026. Montgomery borrowed other money at a 10% annual rate.Required:1. At what amount should Montgomery record the note payable and corresponding cost of the building on January 1, 2021?2. How much interest expense on this note will Montgomery recognize in 2021?Go to the U.S. General Services Administration (GSA) website. For the month of September 30,2019 , what is the per diem rate for each of the following towns: Flagstaff, AZ Palm Springs, CA Denver, CO
- During 2019, the Zeppelin City Debt Service Fund paid $18100 towards general long-term debt principal and $4400 towards interest on general long-term debt. What amount will be reported as Expenditures for Debt Service for 2019? BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000. Your Answer: AnswerOn October 1, 2024, Green Corporation loans one of its employees $26,000 and accepts a 12-month, 8% note receivable. Calculate the amount of interest revenue Green will recognize in 2024 and 2025.Kellman Jerkirer Inc. has a December 31 year-end. The local municipality billed the entire 2022 property taxes of $20,000 on April 1, 2022. Kellman paid $4,000 of the 2022 property taxes on May 31, 2022. Required: Calculate the balance of the property tax payable or prepaid property tax account as at May 31, 2022.$fill in the blank 1