Horngren's Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText, Access Card Package

11th Edition

ISBN: 9780134078946

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 9, Problem P9.31APGA

Accounting for notes receivable and accruing interest

Cathy Realty loaned money and received the following notes during 2016.

Note	Date	Principal Amount	Interest Rate	Term
(D	Jun. 1	$ 18,000	8%	1 year
(2)	Sep 30	24,000	12%	6 months
(3)	Oct. 19	10,000	9%	60 days

Requirements

1. Determine the maturity date and maturity value of each note.

2. Journalize the entries to establish each Note Receivable and to record collection of principal and interest at maturity. Include a single adjusting entry on December 31, 2016, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required.

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Chapter 9, Problem P9.30APGA

Chapter 9, Problem P9.32APGA

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Chapter 9 Solutions

Horngren's Accounting, Student Value Edition Plus MyAccountingLab with Pearson eText, Access Card Package

Ch. 9 - 1. With good internal controls, the person who...Ch. 9 - Prob. 2QC Ch. 9 - Which of the following is a limitation of the...Ch. 9 - 3. The entry to record a write-off of an...Ch. 9 - Brickman Company uses the allowance method to...Ch. 9 - Brickman’s ending balance of accounts Receivable...Ch. 9 - At December 31 year-end, Crain Company has an...Ch. 9 - Using the data in the preceding question, what...Ch. 9 - At year-end, Schultz Company has cash of $11,600,...Ch. 9 - Using the data in the preceding question, assume...

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