Calculate total time in days for the following notes. (Assume there are 28 days inFebruary.)
Answer to relevant QuestionsUsing 360 days as the denominator, calculate interest for the following notes using the formula I = P × R ×T.Prepare general journal entries for the following transactions:June 15 Purchased $6,000 worth of equipment from a supplier on account.July 15 Issued a $6,000, 30-day, 12% note in payment of the account payable.Aug. 14 ...The following is a list of outstanding notes payable as of December 31,20--:When two sole proprietors decide to combine their businesses, at what values should the noncash assets be taken over by the partnership?Jeff Bowman and Kristi Emery, who have ending capital balances of $100,000 and $60,000, respectively, agree to admit two new partners to their business on August 18, 20--. Dan Bridges will buy one-fifth of Bowman’s capital ...
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