Question: help urgent!! need help right now for the 7 and 8 WLLT UlaunchUdl=https%253A%252F%252Fnewconnect.mheducation am G Saved Zing Cell Phone Company entered into the following transactions


WLLT UlaunchUdl=https%253A%252F%252Fnewconnect.mheducation am G Saved Zing Cell Phone Company entered into the following transactions involving current liabilities during 2020 and 20 2020 Mar. 14 Purchased merchandise on credit from Ferris Inc. for $168,000. The terms were 1/10, n/30 (assume a perpetual inventory system). Apr. 14 Zing paid $39,000 cash and replaced the $129,000 remaining balance of the account payable to Ferris Inc. with a 5%, 60-day note payable. May 21 Borrowed $139,000 from Scotiabank by signing a 4.0%, 90-day note. ? Paid the note to Ferris Inc. at maturity. ? Paid the note to Scotiabank at maturity. Dec. 15 Borrowed $114,000 and signed a 5.25%, 120-day note with National Bank. Dec. 31 Recorded an adjusting entry for the accrual of interest on the note to National Bank. 2021 ? Paid the note to National Bank at maturity. Required: 1. Determine the maturity dates of the three notes just described. Ferris Ine Scotiabank National Bank Maturity date Jun 13 Aug 19 Apr. 14 _con=con&external browser=0&launchUn=https%253A%252F%252Fnewconnect.me Exam Saved Journal entry worksheet
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
