EBK ADVANCED FINANCIAL ACCOUNTING
EBK ADVANCED FINANCIAL ACCOUNTING
11th Edition
ISBN: 8220102796096
Author: Christensen
Publisher: YUZU
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Chapter 14, Problem 14.2.1E
To determine

Introduction: Securities Act of 1993 which is passed in 1993 for security exchange works with the motive to secure the investors so that they can get financial and other important information related to securities issued in public sale and also to have a check on activities like fraud, misrepresentation, etc.

To choose: The correct answer.

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These transactions took place for Blossom Co. 2024 May 1 Received a $3,000, 12-month, 4% note in exchange for an outstanding account receivable from R. Stoney. Accrued interest revenue on the R. Stoney note. Dec. 31 2025 May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31, 2024.) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect.) Date Account Titles and Explanation Debit Credit
Oriole Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $54,600 cash to C. Bohr on a 12-month, 8% note. Dec. 11 Sold goods to K. R. Pine, Inc., receiving a $1,800, 90-day, 7% note. Received a $14,400, 180-day, 6% note to settle an open account from A. Murdock. 16 31 Accrued interest revenue on all notes receivable. Journalize the transactions for Oriole Co. (Omit cost of goods sold entries.) (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. Use 360 days for calculation. If no entry is required, select "No Entry" for the account titles and enter O for the amount in the relevant debit OR credit box. Entering zero in ALL boxes will result in the question being marked incorrect.) Date Account…
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