Answer Happy

Next question More info 2018 Feb 3 Purchased equipment for $15,000, signing a six-month, 12% note payable. Recorded the week's sales of $63,000, one-third for cash, and two-thirds on 28 account. All sales amounts are subject to a 5% sales tax. Ignore cost of goods sold Sent last week's sales tax to the state. Mar 7 Apr 30 Borrowed $150,000 on a four-year, 10% note payable that calls for annual payment of interest each April 30. Aug 3 Paid the six-month, 12% note at maturity Nov 30 Purchased inventory at a cost of $3,000, signing a three-month, 4% note payable for that amount Dec 31 Accrued warranty expense, which is estimated at 6.0% of total sales of $600,000. Accrued interest on all outstanding notes payable. Accrued interest for each note 31 separately. 2019 Feb 28 Paid off the 4% inventory note, plus interest, at maturity Apr 30 Paid the interest for one year on the long-term note payable Print Done R FI 55 V " T G 96 B MacBook 24 Y & 87 H U N .00 8 J DIE - M ( 9 K DO 49 O 0
Aug 3: Paid the six-month, 12% note at maturity. Accounts Date Aug 3, 2018 Notes payable, short-term Interest expense Cash Journal Entry Debit Credit GIZE
M LA Click the icon to view the transactions) 2010 and 201 Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits Exclude explanations from any journal entres Round anourts to the e Dec 31: Accrued warranty expense, which is estimated at 6.0% of total sales of $600,000. Journal Entry Accounts Debit Credit Date Dec 31, 2018 Warranty expense Estimated warranty payable Y Dec 31: Accrued interest on all outstanding notes payable. Accrued interest for each note separately. Start by accruing interest on the $150,000, four-year, 10% note from April 30. Journal Entry Debit Credit Date Accounts Dec 31, 2018- Time Remaining: Co O
COSM LA Click the loon to view the transactions) Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits Exclude explanations from any una entes Rount anunts to he Dec 31: Accrued interest on all outstanding notes payable. Accrued interest for each note separately Start by accruing interest on the $150,000, four-year, 10% note from April 30 Journal Entry Accounts Date Debit Credit Dec 31, 2018 Now accrue interest at December 31 on the $3,000, three-month, 4% note from November 30. Journal Entry Date Accounts Debit Credit Dec 31, 2018 Time Re
Start by accruing interest on the $150,000, four-year, 10% note from April 30 Journal Entry Accounts Debit Credit Date Dec 31, 2016 Now accrue interest at December 31 on the $3,000, three-month, 4% note from November 30, Journal Entry Debit Accounts Credit Date Dec 31, 2018 440 ** 198 PA 1 FN MacBook & 7 54 8 Time Remaining 24 N M 6 O Next
08 Submit test The following transactions of Penny and Dime Marine Supply occurred during 2018 and 2019 Click the icon to view the transactions.) Requirement 1. Record the transactions in the company's journal. Explanations are not required. (Record debits first, then credits Exclude explanations from any journal entines Round amounts to the n Now accrue interest at December 31 on the $3,000, three-month, 4% note from November 30. Journal Entry Accounts Date Debit Credit Dec 31, 2018 Next, record the 2019 transactions, beginning with repayment of the 4% inventory note Feb 28: Paid off the 4% inventory note, plus interest, at maturity. Journal Entry Debit Credit Accounts Date Feb 28, 2019 Time Remaining: 02:02:37
hal Explanations are not required (Record debits first, the credits Excale explanations may not as to the we CD Time Remaining 12:02:30 Next, record the 2019 transactions, beginning with repayment of the 4% inventory note Feb 28: Paid off the 4% inventory note, plus interest, at maturity Journal Entry Accounts Date Debit Credit Feb 28, 2019 Apr 30 Paid the interest for one year on the long-term note payable. Journal Entry Accounts Date Apr 30, 2010 Debit Credit MacBook 56 Next
COS Apr 30: Paid the interest for one year on the long-term note payable Journal Entry Accounts Date Apr 30, 2019 Debit 288 FA Credit 224 FS MacBook * K & 80 F 64 A D 18 9 Time Remaining: 02:1 M S