Question: Exercise 10-14 Notes payable with year-end adjustments LO3 Trista and Co. borrowed $210,000 on December 1,2023 , for 90 days at 4% interest by signing


Exercise 10-14 Notes payable with year-end adjustments LO3 Trista and Co. borrowed $210,000 on December 1,2023 , for 90 days at 4% interest by signing a note to buy jewellery inventory. 1. On what date will this note mature? 2. How much interest expense is created by this note in 2023 ? (Use 365 days a year. Do not round intermediate calculations and round the final answer to 2 decimal places.) 3. How much interest expense is created by this note in 2024 ? (Use 365 days a year. Do not round intermediate calculations and round the final answer to 2 decimal places.) 4. Prepare the journal entries on December 1, December 31 (Trista and Co.'s year-end), and the maturity date. (Use 365 days a year. Do not round intermediate calculations and round the final answer to 2 decimal places.)
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