WebFREE SOLUTION: Q24E Journalizing note receivable transactionsThe followi... step by step explanations answers by teacher StudySmarter Original! WebAnswer to question #5 Yes, you should. The reason is that your liability and your right to its reimbursement are two separate items. As you have a present obligation as a result of past event, you should definitely make a provision amounting to CU 30 000.
How to Record an Interest Expense Journal Entry
WebJournal Entries for Notes Payable Let’s discuss the various instances of notes payable with examples in each of the following circumstances: Issued Notes Payable for cash If Ram Inc issues notes payable for $30,000 due in 3 months at 8% p.a. to obtain loan. The interest would be $ 30,000 * 3/12 * 8% = $600. The relevant journal entry would be Web14 apr. 2024 · Journal Entry for Loan Payment (Principal & Interest) Loans are a common means of seeking additional capital by the companies. They can be obtained from banks, … high protein packed lunch ideas
Journal Entry for Issuance of Promissory Note - FinancEazy
WebThe adjusting journal entry for Interest Payable is: It is unusual that the amount shown for each of these accounts is the same. In the future months the amounts will be different. … Web26 sep. 2024 · Published on 26 Sep 2024. Bookeepers must record all financial transactions that relate to the business's earnings and expenditures. Most transactions are recorded … Web9 mrt. 2024 · The bonds were issued at a premium because the stated interest rate exceeded the prevailing market rate. The bondholders receive $6,000 ($100,000 x .06) … high protein packed lunch ideas uk