Question: fair value of a 5 year note is 200000 and the present value is 162092 and they agreed to oay 5 percent annual which is

fair value of a 5 year note is 200000 and the present value is 162092 and they agreed to oay 5 percent annual which is 10000 dollars how do you write the journal entry for the first interest payment

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Chapter 1 Introduction to Accounting NAME ___________________________________________________ DATE _______________________________ 1. Which of the following events would be recorded as an accounting...

Answer all the questions below with explanations and long answers using the pdf. 1) Net Income before Income Tax (do not consider comprehensive income) 2) Total of Depreciation Expense (including...

I am unsure how to start this and how to fill out excel. Please help, question below. Question: Part 1 - Excel Sheet Prepare Ratios Ratios for National Beverage Corp. concerning liquidity, solvency,...

Part 1 - Excel Sheet Prepare Ratios Ratios for National Beverage Corp. concerning liquidity, solvency, profitability, DuPont, and stock performance as of April 30, 2016 and prior statement...

Chapter 13 1. Jane's Donut Co. borrowed $200,000 on January 1, 2009, and signed a two-year note bearing interest at 12%. Interest is payable in full at maturity on January 1, 2011. In connection with...

Strategic Analysis #1: Assuming the owners want to sell to a corporate acquirer, make acounter offer to John Deere. Based on your counter offer, what would be the financial outcome to the individual...

Delta Limited (Delta) prepares its financial statements to 30 September each year. The financial statements for the year ended 30 September 2020 are shortly to be authorised for issue. The following...

QUESTION 1 (25 marks) Delta Limited (Delta) prepares its financial statements to 30 September each year. The financial statements for the year ended 30 September 2020 are shortly to be authorised for...

Because of its inability to control film and personnel costs in its radiology department, Sanger General Hospital wants to replace its existing picture archive and communication (PAC) system with a...

If a business can implement cash management systems and save three days by reducing remittance time and one day by increasing disbursement time based on $2,000,000 in average daily remittances and...

Define the components of each variable in the NI (national income) equation (W, T, and S). Explain how each of these variables is estimated. Explain how governmental changes in the income tax rate...

Problem 2 - 2 A ( Static ) Analyze the impact of transactions on the accounting equation ( LO 2 - 1 , 2 - 2 )

You have been provided with the following information regarding the BCG Manufacturing Company: Sales price Variable manufacturing cost per unit Variable marketing cost per unit Fixed manufacturing...