Purchased land by issuing a $670,000, 90-day note to Zahorik Co., which discounted it at 9%. Dec. 14: Journalized the payment of the September 15 note at maturity. Description Debit Credit choices: Cash, Interest Expense, No Entry Required, Notes Payable, Notes Receivable choices: Cash, Interest Expense, No Entry Required, Notes Payable, Notes Receivable Dec. 31: The pension cost for the year was $190,400, of which $139,700 was paid to the pension plan trustee. Description Debit Credit choices: Cash, No Entry Required, Office Salaries Expense, Pension Expense, Unfunded Pension Liability choices: Cash, No Entry Required, Notes Payable, Payroll Tax Expense, Pension Expense choices: No Entry Required, Notes Payable, Notes Receivable, Pension Expense, Unfunded Pension Liability
Purchased land by issuing a $670,000, 90-day note to Zahorik Co., which discounted it at 9%. Dec. 14: Journalized the payment of the September 15 note at maturity. Description Debit Credit choices: Cash, Interest Expense, No Entry Required, Notes Payable, Notes Receivable choices: Cash, Interest Expense, No Entry Required, Notes Payable, Notes Receivable Dec. 31: The pension cost for the year was $190,400, of which $139,700 was paid to the pension plan trustee. Description Debit Credit choices: Cash, No Entry Required, Office Salaries Expense, Pension Expense, Unfunded Pension Liability choices: Cash, No Entry Required, Notes Payable, Payroll Tax Expense, Pension Expense choices: No Entry Required, Notes Payable, Notes Receivable, Pension Expense, Unfunded Pension Liability
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Purchased land by issuing a $670,000, 90-day note to Zahorik Co., which discounted it at 9%.
Dec. 14: Journalized the payment of the September 15 note at maturity.
| Description | Debit | Credit |
|---|---|---|
|
choices: Cash, Interest Expense, No Entry Required, Notes Payable, Notes Receivable
|
||
|
choices: Cash, Interest Expense, No Entry Required, Notes Payable, Notes Receivable
|
Dec. 31: The pension cost for the year was $190,400, of which $139,700 was paid to the pension plan trustee.
| Description | Debit | Credit |
|---|---|---|
|
choices: Cash, No Entry Required, Office Salaries Expense, Pension Expense, Unfunded Pension Liability
|
||
|
choices: Cash, No Entry Required, Notes Payable, Payroll Tax Expense, Pension Expense
|
||
|
choices: No Entry Required, Notes Payable, Notes Receivable, Pension Expense, Unfunded Pension Liability
|
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