Question: gnment BACK CALORATOR PULL SCREEN PRINTER VERSON Problem 10-2A Swifty Corporation sells reck-climbing products and also operates an indoor climbing facility for cimbing enthusiasts. During
gnment BACK CALORATOR PULL SCREEN PRINTER VERSON Problem 10-2A Swifty Corporation sells reck-climbing products and also operates an indoor climbing facility for cimbing enthusiasts. During the last part of 2017, Swifty had the following transactions related to notes payable Issued a $13,200 note to Pippen to purchase inventory. The 3-month note payable bears interest of 91% and is due December 1. (Swfty uses a perpetual inventory system) Sept. 1 Sept. 30 Recorded accrued interest for the Pippen note. Issued a $22,8oo, 9%, 4- month note to Prime Bank to finance the purchase of a new dimbing wall for advanced climbers. The note is due February 1. Oct. 1 Recorded accrued interest for the Pippen note and the Prime Bank note Issued a $24.00o0 note and paid $7,600 cash to purchase a vehicle to transport dients to nearby cimbing sites as pat of a new series of climbing classes. This note bears interest of 6% and Oct. 31 Nov. 1 matures in 12 months Nov. 30 Dec. 1 Recorded accrued interest for the Pippen note, the Prime Bank note, and the vehicle note. Paid principal and interest on the Pippen note Recorded accrued interest for the Prime Bank note and the vehicle note. Dec. 31 Your answer is partially corect. Try again Prepare journal entries for the transactions noted above. (Credit account titles are automatically indented when amount is entered, Do not indent manually. Record journal entries in the ordert presented in the problem.) Debi Credit Account Ttles and Explanation Date Sept. 1 Inventory 13200 13200 Notes Payable Interest Expense 22800 Sept 30 Verion 4 acc Polcy 2000 2012Jshee ensJo ARights R ed A Div f Jhn we es Inc a
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
