Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters

12th Edition

ISBN: 9780134490663

Author: MILLER-NOBLES, Tracie L., Mattison, Brenda L., Matsumura, Ella Mae

Publisher: PEARSON

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Chapter 9, Problem P9.32APGA

Accounting for notes receivable and accruing interest

Learning Objective 4
1. Note3Dec 18, 2018

Carley Realty loaned money and received the following notes during 2018.

Note	Date	Principal Amount	Interest Rate	Term
(1) (2) (3)	Apr.1 Apr.30 Apr.19	$6,000 12,000 18,000	7% 6% 8%	1 year 6 months 90 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, 2018, the fiscal year-end, to record accrued interest revenue on any applicable note. Explanations are not required. Round to the nearest dollar.

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Chapter 9, Problem P9.31APGA

Chapter 9, Problem P9.33APGA

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Chapter 9 Solutions

Myaccountinglab With Pearson Etext -- Access Card -- For Horngren's Accounting, The Managerial Chapters

Ch. 9 - 1. With good internal controls, the person who...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 - During the year, Bernard Company had net credit...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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